Section 357TH — Corporation Tax Act 2010: Terminal losses

Terminal losses 357TH 1 Section 1217DC of CTA 2009 (terminal losses) has effect subject as follows.

2 Where—

a a company makes an election under subsection (3) of that section (election to treat terminal loss as loss brought forward of different trade) in relation to all or part of a terminal loss, and b the terminal loss is a Northern Ireland loss, that subsection has effect as if the reference in it to a loss brought forward were to a Northern Ireland loss brought forward.

3 Where—

a a company makes a claim under subsection (6) of that section (claim to treat terminal loss as loss brought forward by different company) in relation to part or all of a terminal loss, and b the terminal loss is a Northern Ireland loss, that subsection has effect as if the reference in it to a loss brought forward were to a Northern Ireland loss brought forward.