Section 325 — Corporation Tax Act 2010: The pool of ring fence losses and the pool of non-qualifying Schedule 19B losses

The pool of ring fence losses and the pool of non-qualifying Schedule 19B losses 325 1 For the purpose of determining the amount of any post-commencement supplement, a qualifying company is to be taken at all times in its post-commencement periods to have a continuing mixed pool (the “ring fence pool”) of—

a the carried forward qualifying Schedule 19B amount (if any),

b the company's ring fence losses, and c post-commencement supplement.

2 The ring fence pool continues even if the amount in it is nil.

3 For the purpose of determining the amount of any post-commencement supplement, a qualifying company is also to be taken in its post-commencement periods to have a non-qualifying pool consisting of the carried forward non-qualifying Schedule 19B amount.

4 But the non-qualifying pool ceases to exist when the amount in it is reduced to nil.

5 In this section— “ the carried forward qualifying Schedule 19B amount ”, in relation to a qualifying company, means the amount in its qualifying pool for the purposes of Part 4 of Schedule 19B to ICTA immediately before 1 January 2006, and “ the carried forward non-qualifying Schedule 19B amount ”, in relation to a qualifying company, means the amount in its non-qualifying pool for the purposes of Part 4 of Schedule 19B to that Act immediately before 1 January 2006.