Section 683 — Corporation Tax Act 2010: Disallowance of UK property business losses

Disallowance of UK property business losses 683 1 This section has effect for the purpose of restricting relief under sections 62 and 63 for a loss made by the company in a UK property business before the change in ownership.

2 Relief under section 62(3) is available only in relation to each of the notional accounting periods considered separately.

3 A loss made in an accounting period beginning before the change in ownership may not be—

a carried forward under section 62(5)(a) or 63(3)(a) to an accounting period ending after the change in ownership, or b treated in relation to that accounting period as mentioned in section 62(5)(b) or 63(3)(b).