[371CC Incidental non-trading finance profits: the 5% rule]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[371CC  Incidental non-trading finance profits: the 5% rule]

[(1)     This section applies in relation to a CFC's accounting period if one or both of the following requirements is met—

(a)     the CFC has trading profits or property business profits (or both);

(b)     the CFC has exempt distribution income and, at all times during the accounting period, a substantial part of its business is the holding of shares or securities in companies which are its 51% subsidiaries.

(2)     Chapter 5 does not apply for the accounting period if the CFC's non-trading finance profits are no more than 5% of the relevant amount.

(3)     “The relevant amount” is—

(a)     if the requirement of subsection (1)(a)

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