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Finance Act 1990

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Changes over time for: Section 99

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Version Superseded: 01/04/2010

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Point in time view as at 01/12/2009. This version of this provision has been superseded. Help about Status

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There are currently no known outstanding effects for the Finance Act 1990, Section 99. Help about Changes to Legislation

99 Loss relief.U.K.

(1)The Taxes Act 1988 shall be amended as follows.

(2)In section 393 (relief for trading losses) in subsection (1) (carry forward of losses on the making of a claim)—

(a)for the words “the company may make a claim requiring that the loss” there shall be substituted the words “ the loss shall ”, and

(b)for the words “on that claim” there shall be substituted the words “ under this subsection ”;

and in subsection (11) (time limit for claims) the words from the beginning to “of six years; and” shall be omitted.

(3)In section 396 (relief for Case VI losses on the making of a claim)—

(a)in subsection (1) for the words “the company may make a claim requiring that the loss” there shall be substituted the words “ the loss shall ”, and

(b)subsection (3) (time limit for claims) shall cease to have effect.

(4)This section applies in relation to accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).

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