Section 690 — Corporation Tax Act 2010: Amount B

Amount B 690 1 In section 688, amount B is the highest 60 day minimum amount for the post-change period.

2 The highest 60 day minimum amount for the post-change period is found as follows. Step 1 Find the daily amounts of the company's capital over the post-change period. Step 2 Take the highest of the daily amounts. Step 3 Find out whether there was in the post-change period a period of at least 60 days in which there was no daily amount lower than the amount taken. Step 4 If there was, the amount taken is the highest 60 day minimum amount for the post-change period. If there was not, take the next highest of the daily amounts and repeat step 3;

and so on, until the highest 60 day minimum amount for the post-change period is found.

3 In this section “ the post-change period ” means the period of 5 years beginning with the change in ownership.