Section 357VD — Corporation Tax Act 2010: Relevant IP losses

Relevant IP losses 357VD 1 If any of the set-off provisions prevents section 357A from applying to an amount of relevant IP profits of the trade of the company for the relevant period, sections 357VA to 357VC have effect as if references to the relevant IP profits of the trade were references to the relevant IP profits reduced by that amount.

2 The “set-off provisions” are—

a subsection (3) of section 357EA (effect of set-off amount on company with more than one trade),

b subsection (4) of section 357EB (allocation of set-off amount within a group),

and c subsection (3) of section 357EC (carry-forward of set-off amount).