Part 14Remediation of contaminated or derelict land
Chapter 4Special provision for BLAGAB
BLAGAB company tax credits
1165Meaning of F1“qualifying BLAGAB loss”
(1)
For the purposes of this Chapter a company has a F2“qualifying BLAGAB loss” in an accounting period (“the relevant accounting period”) if in the period—
(a)
it is entitled to relief under section 1161 F3or 1162, and
(b)
an amount falls to be carried forward to a subsequent accounting period under F4section 73 of FA 2012 as excess BLAGAB expenses.
(2)
In determining for the purposes of subsection (1)(b) whether there is an amount which falls to be carried forward to a subsequent accounting period under F5section 73 of FA 2012 as excess BLAGAB expenses, no account is to be taken of the amounts specified in subsection (3).
(3)
Those amounts are amounts—
(a)
brought forward from an earlier accounting period, and
F6(b)
taken into account in calculating for the purposes of section 73 of FA 2012 the amount of adjusted BLAGAB management expenses of the company for the relevant accounting period as a result of—
(i)
the previous application of section 73 or 93 of FA 2012, or
(ii)
the carry forward to the relevant accounting period of an amount under section 391 of this Act (surplus deficit).
(4)
The amount of the F7qualifying BLAGAB loss is—
(a)
the amount which falls to be carried forward as mentioned in subsection (1)(b), or
(b)
if less, 150% of the qualifying Chapter 4 expenditure in respect of which the relief was obtained.