- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/04/2019)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 01/04/2020
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(1)In determining the amount of a gain accruing to a company which is not to be a chargeable gain as a result of section 535A, any pre-April 2019 residual business losses or deficits which—
(a)have not been deducted from (or taken into account in calculating) other profits or gains (of any kind) of the company or any other person, and
(b)have not previously been deducted under this subsection,
may be deducted from the gain.
(2)For this purpose “pre-April 2019 residual business losses or deficits” means—
(a)allowable losses accruing on disposals made before 6 April 2019, or
(b)deficits or other losses for accounting periods ending before that date,
which would otherwise have been deducted from (or taken into account in calculating) profits or gains (of any kind) accruing to residual business of the company.
(3)If an accounting period (a “straddling period”) begins before and ends on or after 6 April 2019—
(a)so much of the straddling period as falls before that date, and so much of it as falls on or after that date, are to be treated as separate accounting periods, and
(b)if it is necessary to apportion an amount for the straddling period to the two separate accounting periods, it is to be apportioned—
(i)on a time basis according to the respective length of the separate accounting periods, or
(ii)if that would produce a result that is unjust or unreasonable, on a just and reasonable basis.]
Textual Amendments
F1Ss. 535A, 535B inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 115
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