(1) Subject to subsections (2) and (3), 'relevant profit', in respect of a relevant entity and an accounting period, means -
(a) the amount of the profits on which corporation tax falls finally to be borne, and
(b) the amount of the gains or losses on a relevant disposal (within the meaning of section 648),
reduced by the amount, if any, of -
(i) the amount of the excess referred to in subsection (2) of section 243B, to the extent relief may be claimed under that subsection, but for this Part,
(ii) the amount of the excess referred to in subsection (2) of section 396B, to the extent relief may be claimed under that subsection, but for this Part, and
(iii) the amount of the excess referred to in subsection (2) of section 420B as it relates to interest on a loan to which section 247(4G) applies, to the extent relief may be claimed under that subsection, but for this Part.
(2) Where an amount of charge, income, expense, gain or loss used to calculate an amount referred to in subsection (1
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