Banking Manual

BKM403200 - Banking surcharge: calculation of surcharge profits: banking company liable to a CFC charge

TIOPA10/S371BI

If a banking company is liable to a CFC charge, the appropriate rate to be applied in calculating the CFC charge is the total of the UK main rate and the rate for the surcharge.

Where a banking company is subject to a CFC charge, the amount at step 5 in section TIOP10/S371BC(1) is to be increased by:

(PCP 바카라 사이트“ SASA) x SP

Where:

PCP is the percentage of the CFC바카라 사이트™s chargeable profits allocated to the company

SASA is the amount of the chargeable company바카라 사이트™s surcharge allowance which it chooses to allocate against the surcharge

SP is the rate of surcharge.