Section 1152 — Corporation Tax Act 2009: Meaning of “qualifying land remediation loss”

Meaning of “qualifying land remediation loss” 1152 1 For the purposes of this Chapter a company has a “qualifying land remediation loss” in an accounting period if in the period—

a it obtains an additional deduction under section 1149 in calculating the profits of a UK property business or a trade, and b it makes a UK property business loss in the business or a trading loss in the trade.

2 The amount of the qualifying land remediation loss is—

a so much of the UK property business loss or trading loss as is unrelieved (see section 1153), or b if less, 150% of the qualifying land remediation expenditure in respect of which the relief was obtained.