CTM18200 - Shadow ACT: set-off of ACT: accounting periods ending on or before 5 April 1999

ICTA88/S239/PARA2

The ACT available for set-off against a company바카라 사이트™s liability for an accounting period is the total of any ACT:

  • paid in respect of any distribution made in the accounting period,
  • any surplus carried forward from the previous accounting period under Section 239 (4),
  • any amount surrendered to the company under ICTA88/S240 (1), and
  • any amount carried back under Section 239 (3) from an accounting period beginning before 6 April 1999.

The amount of the set-off is limited to an amount equal to the ACT that would have beenpayable in respect of a distribution made at the end of the period of an amount which, together with the ACT thereon, is equal to the company바카라 사이트™s CT profit for the accounting period.

Guidance on the regime for accounting periods ending before 6 April 1999 can be found at CTM20000 onwards.