Section 318 — Corporation Tax Act 2010: Reduction in respect of unrelieved group ring fence profits

Reduction in respect of unrelieved group ring fence profits 318 1 This section applies if there is an amount of unrelieved group ring fence profits for a pre-commencement period.

2 For the purpose of allocating qualifying pre-commencement expenditure to the pool for that period—

a find so much (if any) of amount E for that period as remains after any reduction falling to be made under section 317, and b reduce that amount (but not below nil) by setting against it a sum equal to the aggregate of the amounts of unrelieved group ring fence profits for the period.