Banking surcharge: calculation of surcharge profits: banking company liable to a CFC charge
Where a banking company is subject to a CFC charge, the amount at step 5 in section TIOP10/S371BC(1) is to be increased by:
(PCP – SASA) x SP
PCP is the percentage of the CFC’s chargeable profits allocated to the company
SASA is the amount of the chargeable company’s surcharge allowance which it chooses to allocate against the surcharge
SP is the rate of surcharge.