Section 45E — Corporation Tax Act 2010: Re-application of section 45B if loss remains after previous application

Re-application of section 45B if loss remains after previous application 45E 1 This section applies if—

a an amount of a loss made in a trade is carried forward to an accounting period (“the later period”) of a company under section 45B(2),

b any of that amount is not used under section 45B(4) to reduce profits of the trade for the later period, and c the company continues to carry on the trade in the accounting period (“the further period”) after the later period.

2 Subsections (2) to (8) of section 45B apply as if—

a references to the unrelieved amount were to so much of the amount carried forward to the later period as was not used as mentioned in subsection (1)(b),

and b references to the later period were to the further period.