SCHEDULE 10 Corporation Tax Relief for Carried-Forward Losses
Finance Act 2019 (2019 c 1) | Legislation

SCHEDULE 10 Corporation Tax Relief for Carried-Forward Losses

Section 27

Restrictions on deductions from profits

1

CTA 2010 is amended as follows.

2

In section 188DD (group relief for carried-forward losses: claimant company's relevant maximum for overlapping period) omit subsection (4).

3

In section 188ED (group relief for carried-forward losses: claimant company's relevant maximum for overlapping period)—

(a)     omit subsection (4), and

(b)     in subsection (5) for “(4)” substitute “(3)”.

4

In section 269ZB (restriction on deductions from trading profits) in subsection (8) for paragraph (b) substitute—

“(b)     any amount specified for the period under section 269ZC(5)(a) (non-trading profits deductions allowance).”

5

In section 269ZC (restriction on deductions from non-trading profits) in subsection (6) for paragraph (b) substitute—

“(b)     any amount specified for the period under section 269ZB(7)(a) (trading profits deductions allowance).”

6

(1)     Section 269ZD (restriction on deductions from total profits) is amended as follows.

(2)     In subsection (2)—

(a)     in paragraph (b)—

(i)     at the end of sub-paragraph (i) insert “and”, and

(ii)     omit sub-paragraph (iii) and the “and” immediately before it, and

(b)     in the second sentence omit “and section 269ZE”.

(3)     In subsection (4)(a) after “period”

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