What is "pctct"

In the UK tax system, more specifically, for UK corporation tax, PCTCT stands for "profits chargeable to corporation tax," a UK term for taxable profits. The PCTCT of a company is derived from a company's profit as shown in the profit and loss account in its accounts, with the addition of any disallowed expenditure, and the deduction of any expenditure that is allowed for tax purposes and has not been deducted in the profit and loss account.