Introduction Overview Chapter 2: Basic definitions Section 275: “Ring fence income”
941.This section sets out the meaning of “ring fence income” for the purposes of this Part. It is based on section 502(1) of ICTA and section 62 of FA 1991.
942.This term is then picked up in section 276 as part of the definition of a company’s “ring fence profits”.
943.The corresponding rule for income tax is section 225C of ITTOIA (inserted by Schedule 1 to TIOPA).