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Finance Act 2003
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Version Superseded: 01/04/2009
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Finance Act 2003, Part 2 is up to date with all changes known to be in force on or before 25 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Part 2U.K.Transitional provisions
Transitional provisionsU.K.
6(1)In Schedule 25 to the Finance Act 2002 (c. 23) (loan relationships) in Part 3 (transitional provisions) after paragraph 61 insert—U.K.
“Non-trading deficit carried forward from last old accounting periodU.K.
61AAny amount carried forward to a new accounting period under subsection (3) of section 83 of the Finance Act 1996 (carry forward of so much of the non-trading deficit on a company’s loan relationships as is not the subject of a claim under subsection (2) of that section)—
(a)shall be disregarded for the purposes of any claim under subsection (2) of that section; and
(b)shall not be surrendered as group relief by virtue of section 403 of the Taxes Act 1988.”.
(2)The Finance Act 2002 (c. 23) shall be taken to have been originally enacted with the amendment made by this paragraph.
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