Section 674A — Corporation Tax Act 2010: Section 674: exception for certain losses of ring fence trade

Section 674: exception for certain losses of ring fence trade 674A 1 Section 674 does not prevent relief being given for a loss if—

a the loss is made in a ring fence trade, b the loss is not a non-decommissioning loss, c it is condition A in section 673 that is met, and d the major change by reference to which that condition is met did not occur within a period of 3 years in which the change in ownership occurred.

2 In this section— “non-decommissioning loss” is to be interpreted in accordance with section 303A; “ ring fence trade ” has the same meaning as in Part 8 (see section 277).