[F1357EAEffect of set-off amount on company with more than one tradeU.K.
This
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Nodiadau Esboniadol
(1)This section applies where—
(a)there is a set-off amount in relation to a trade of a company for an accounting period, and
(b)the company carries on any other trade.
(2)The set-off amount is to be reduced (but not to below nil) by any relevant IP profits of that other trade for the accounting period.
(3)Section 357A does not apply in relation to so much of the amount of relevant IP profits of that other trade for the accounting period as is equal to the amount by which the set-off amount is reduced under subsection (2).]
Textual Amendments
F1Pt. 8A inserted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2012 (c. 14), Sch. 2 para. 1(1)