188体育

• Company X makes 拢500m ring fence profits in a qualifying AP.
• It makes a 拢20m payment relating to a bond payment. Company X must add back this 拢20m financing cost to its ring fence profits.
• Company X spends 拢50m on decommissioning an old pipeline for which it has claimed a 100% special allowance under CAA01\S164. Company X will have to add back this 拢50m decommissioning cost to its ring fence profits.
• Company X received 拢10m PRT repayment from this decommissioning, this will be deducted from its ring fence profits.
• Company X incurs 拢5 million of qualifying capital expenditure, generating 拢1.45m (29% of 拢5 million) of additional expenditure. Company X will deduct 拢1.45m from its ring fence profits.
• Company X has a carried forward RFCT loss of 拢100m. However, as this loss is an RFCT loss it cannot be used to reduce the profits chargeable to the levy.

In total the profits chargeable to the levy are 拢500m + 拢20m + 拢50m - 拢10m - 拢1.45m = 拢578.55m.