Section 705D — Corporation Tax Act 2010: Restriction on carry forward of non-trading deficit from loan relationships
Text of the provision Official document
Restriction on carry forward of non-trading deficit from loan relationships 705D 1 This section has effect for the purpose of restricting the carry forward of a non-trading deficit from the company's loan relationships under Part 5 of CTA 2009 (loan relationships).
2 Subsection (3) applies if the non-trading deficit in column 1 of row 4 of the table in section 705F(2) is apportioned in accordance with section 705F to the first notional accounting period.
3 None of that non-trading deficit may be carried forward to—
a the accounting period beginning immediately after the change in ownership, or b any subsequent accounting period.
Official source: legislation.gov.uk
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