Minor and consequential amendments to Part 7A of CTA 2010U.K.
36U.K.Part 7A of CTA 2010 (banking companies: restrictions on obtaining certain deductions) is amended as follows.
37(1)Section 269CB (restriction on deductions for non-trading deficits from loan relationships) is amended as follows.U.K.
(2)In subsection (2)—
(a)for “relevant non-trading profits”, in both places it occurs, substitute “ total relevant non-trading profits ”, and
(b)for “subsection (2)” substitute “ subsection (2B) ”.
(3)In subsection (3), for “relevant non-trading profits”, in both places it occurs, substitute “ total relevant non-trading profits ”.
38U.K.In section 269CN (definitions)—
(a)omit the definition of “relevant non-trading profits”, and
(b)at the end insert—
““total relevant non-trading profits”, in relation to a company, has the meaning given by section 269ZF(2B).”