Schedules
F1SCHEDULE A1First-year tax credits
Annotations:
Amendments (Textual)
Part 2Giving effect to first-year tax credits
Restriction on losses carried forward
22
1
F32
For the purposes of those rules, the total amount which may—
a
be carried forward under section 73 of FA 2012 from a chargeable period in which the company claims a first-year tax credit, and
b
be brought into account for the next chargeable period in accordance with step 5 in section 76 of FA 2012,
is treated as reduced by the amount of the loss surrendered.
Sch. A1 inserted (with effect in accordance with Sch. 25 para. 9 of the amending Act) by Finance Act 2008 (c. 9), Sch. 25 para. 5