62 Meaning of “relevant profits” in section 61
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

62  Meaning of “relevant profits” in section 61

(1)     This section applies for the purposes of section 61.

(2)     “Relevant profits”, if the dividend is paid for a specified period, means—

(a)     the profits of that period, plus

(b)     if the total dividend exceeds the distributable profits of that period, so much of the distributable profits of preceding periods as is equal to the excess.

(3)     “Relevant profits”, if the dividend

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