Section 1168 — Corporation Tax Act 2009: Restriction on carrying forward expenses payable where tax credit claimed

Restriction on carrying forward expenses payable where tax credit claimed 1168 1 This section applies if a company claims a BLAGAB tax credit to which it is entitled for an accounting period.

2 For the purposes of section 73 of FA 2012 the amount which may be—

a carried forward from the accounting period under that section as excess BLAGAB expenses , and b brought into account in accordance with step 5 in section 76 of FA 2012 , 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 qualifying BLAGAB loss in respect of which the land remediation tax credit is claimed for the period.