Part 3 Commencement and Transitional Provisions etc
Finance Act 2019 (2019 c 1) | Legislation

Part 3 Commencement and Transitional Provisions etc

120

(1)     The amendments made by this Schedule have effect—

(a)     for the purposes of capital gains tax, for the tax year 2019–20 and subsequent tax years, and

(b)     for the purposes of corporation tax, for accounting periods beginning on or after 6 April 2019.

(2)     The amendments made by this Schedule also have effect for the purposes of corporation tax in relation to disposals made on or after 6 April 2019 (whether in their application to accounting periods beginning on, and ending on or after, that date or to later accounting periods).

121

(1)     This paragraph applies to—

(a)     allowable NRCGT losses accruing to a person before 6 April 2019, and

(b)     ring-fenced ATED-related allowable losses accruing to a person before that date,

so far as they have not been deducted under section 2B, 8(1)(b)(ii), 14D or 188D of TCGA 1992 (as those provisions have effect before the amendments made by this Schedule) from chargeable gains accruing before that date.

(2)     If losses to which this paragraph applies accrued to a company, they are

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