Corporation Tax Act 2010 (c. 4)

Part 14 U.K. Change in company ownership

Modifications etc. (not altering text)

C1 Pt. 14 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 20

C2 Pt. 14 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 18 (with ss. 15(1), 16(1), 17)

Chapter 3 U.K. Company with investment business: restrictions on relief: general provision

Restrictions on relief U.K.

684 Disallowance of overseas property business losses U.K.

(1) This section has effect for the purpose of restricting relief under section 66 for a loss made by the company in an overseas property business before the change in ownership.

(2) A loss in the business made in an accounting period beginning before the change in ownership may not be used under section 66(3) to reduce the profits of the business of an accounting period ending after the change in ownership.