Section 463A — Corporation Tax Act 2009: Introduction to Chapter

Introduction to Chapter 463A 1 This Chapter applies if—

a for any accounting period beginning on or after 1 April 2017 a company has a non-trading deficit from its loan relationships under section 301(6),

and b at the end of that accounting period the company is not a charity.

2 In this Chapter “the deficit” and “the deficit period” mean that deficit and that period respectively.

3 Sections 463B and 463C deal with claims to set off the deficit against profits of the deficit period or earlier periods.

4 Sections 463D to 463F deal with the consequences of such claims.

5 Sections 463G to 463I provide for so much of the deficit as is not—

a set off against profits under section 463B, or b surrendered as group relief under Part 5 of CTA 2010, to be carried forward to later accounting periods.