[F1403ZD Other amounts available by way of group relief.U.K.
(1)References in section 403 to charges on income, [F2UK property business losses] and management expenses shall be construed as follows.
(2)Charges on income means the aggregate of the amounts paid by the surrendering company in the surrender period by way of charges on income.
(3)A [F3UK property business loss] means a loss incurred by the surrendering company in the surrender period in a [F4UK property business] carried on by the company.
It does not include—
(a)an amount treated as such a loss by section 392A(2) (losses carried forward from earlier period), or
(b)a loss which would be excluded from section 392A by subsection (5) of that section (certain businesses not carried on with a view to gain).
[F5(4)Management expenses means the aggregate of the amounts deductible under [F6section 1219 of CTA 2009 (expenses of management of a company's investment business)] by the surrendering company for this period.
It does not include an amount deductible by virtue only of [F7section 392A above or section 1223(3) of CTA 2009](amounts carried forward from earlier periods).]
(5)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F9(6)A non-trading loss on intangible fixed assets means a non-trading loss on intangible fixed assets, within the meaning of [F10Part 8 of CTA 2009 (intangible fixed assets)], for the surrender period.
It does not include so much of any such loss as is attributable to an amount being carried forward under [F11section 753(3) of that Act] (amounts carried forward from earlier periods).]]
Textual Amendments
F1Ss. 403-403ZE substituted for s. 403 (with effect in accordance with s. 38(2)(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 5 para. 29 (with Sch. 5 para. 73)
F2Words in s. 403ZD(1) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 120(2) (with Sch. 2 Pts. 1, 2)
F3Words in s. 403ZD(3) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 120(3)(a) (with Sch. 2 Pts. 1, 2)
F4Words in s. 403ZD(3) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 120(3)(b) (with Sch. 2 Pts. 1, 2)
F5S. 403ZD(4) substituted (28.9.2004 with effect in accordance with art. 1(2) of the amending S.I.) by The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004 (S.I. 2004/2310), Sch. para. 14(2)(4)
F6Words in s. 403ZD(4) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 120(4)(a) (with Sch. 2 Pts. 1, 2)
F7Words in s. 403ZD(4) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by virtue of Corporation Tax Act 2009 (c. 4), Sch. 1 para. 120(4)(b) (with Sch. 2 Pts. 1, 2)
F8S. 403ZD(5) omitted (28.9.2004 with effect in accordance with art. 1(2) of the repealing S.I.) by virtue of The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004 (S.I. 2004/2310), Sch. para. 14(3)
F9S. 403ZD(6) inserted (24.7.2002) by Finance Act 2002 (c. 23), Sch. 30 para. 2(2)
F10Words in s. 403ZD(6) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 120(5) (with Sch. 2 Pts. 1, 2)
F11Words in s. 403ZD(6) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 120(5) (with Sch. 2 Pts. 1, 2)