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HMRC internal manual

Company Taxation Manual

From
HM Revenue & Customs
Updated
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Shadow ACT: computation of: surplus franked investment income

Any surplus franked investment income including any surplus at 5 April 1999 is carried forward to the next accounting period. Surplus franked investment is the excess of the aggregate of nine eighths of the franked investment income and the surplus franked investment income brought forward over the franked distribution.