Introduction Overview Overview
31.This Chapter explains how to calculate the company’s profits on which corporation tax is chargeable for an accounting period. These are the profits referred to in the first step in paragraph 8(1) of Schedule 18 to FA 1998. The applicable rates of corporation tax set out in the preceding Chapter of this Act are applied to the amount of these profits.
32.In this Act these profits are known as “taxable total profits”.
33.The main corporation tax self-assessment provisions in Schedule 18 to FA 1998 have not been rewritten.