Section 35 — Corporation Tax Act 2010: Overview of Part

Overview of Part 35 1 This Part provides corporation tax relief for—

a losses made in a trade (see Chapter 2 as well as the restrictions on relief in Chapter 3 relating to limited partnerships and limited liability partnerships),

b losses made in a UK property business or overseas property business (see Chapter 4),

c losses made on a disposal of certain shares (see Chapter 5),

and d losses made in certain miscellaneous transactions (see Chapter 6).

2 This Part also provides for the reduction of available relief if there is a write-off of government investment in a company (see Chapter 7).

3 For rules about the calculation of losses for the purposes of this Part, see—

a section 47 of CTA 2009 (losses of a trade calculated on same basis as profits),

and b section 210 of CTA 2009 (which applies section 47 of that Act, so that losses of a UK property business or overseas property business are calculated on the same basis as profits).

4 See also Part 17 of CTA 2009 for rules about how to calculate the losses of a company that is a partner in a partnership.