215 Undistributed income amount
Finance (No 2) Act 2023 (2023 c 30) | Legislation

215  Undistributed income amount

(1)     The undistributed income amount for an investment entity for an accounting period is the entity's adjusted profits for the income period less the amounts referred to in subsection (2).

(2)     The amounts are—

(a)     the covered taxes payable by the entity (determined in accordance with Chapter 5) in the income period;

(b)     distributions and deemed distributions paid by the entity and received by shareholders other than other investment entities in the review period;

(c)     if, on determining the adjusted

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