Section 705E — Corporation Tax Act 2010: Restriction on relief for non-trading loss on intangible fixed assets

Restriction on relief for non-trading loss on intangible fixed assets 705E 1 This section has effect for the purpose of restricting relief under section 753 of CTA 2009 (treatment of non-trading losses) in respect of a non-trading loss on intangible fixed assets.

2 Relief under section 753 of CTA 2009 against the total profits of the same accounting period is available only in relation to each of the notional accounting periods considered separately.

3 A non-trading loss on intangible fixed assets for an accounting period beginning before the change in ownership may not be—

a carried forward under section 753(3) of that Act to an accounting period ending after the change in ownership, or b treated under that section as if it were a non-trading loss on intangible fixed assets for that period.