2(1)In section 403 of the Taxes Act 1988 (amounts that may be surrendered by way of group relief)—
(a)in subsection (1)(b) (amounts that may be surrendered if available for group relief) for “or management expenses which are" substitute “ , management expenses or a non-trading loss on intangible fixed assets ”;
(b)in subsection (3), in the first sentence (meaning of availability for group relief), for “and management expenses" substitute “ management expenses and a non-trading loss on intangible fixed assets ”;
(c)in subsection (3), in the second sentence (order in which amounts treated as used), for “and finally management expenses" substitute “ , management expenses and finally a non-trading loss on intangible fixed assets ”.
(2)In section 403ZD of the Taxes Act 1988 (further provisions as to amounts available for group relief), after subsection (5) insert—
“(6)A non-trading loss on intangible fixed assets means a non-trading loss on intangible fixed assets, within the meaning of Schedule 29 to the Finance Act 2002, for the surrender period.
It does not include so much of any such loss as is attributable to an amount being carried forward under paragraph 35(3) of that Schedule (amounts carried forward from earlier periods).”.