Section 1062 — Corporation Tax Act 2009: Restriction on losses carried forward where tax credit claimed

Restriction on losses carried forward where tax credit claimed 1062 1 This section applies if a company claims an R&D tax credit to which it is entitled for an accounting period.

2 For the purposes of sections 45, 45A and 45B of CTA 2010 (relief of trading losses against future ... profits) the company's trading loss for the period is treated as reduced by the amount of the surrendered loss for the period.

3 The “ amount of the surrendered loss ” for the period means the amount of the Chapter 2 surrenderable loss in respect of which the company claims an R&D tax credit for the period.