Part 14Remediation of contaminated or derelict land
Chapter 4Special provision for BLAGAB
BLAGAB company tax credits
1168Restriction on carrying forward expenses payable where tax credit claimed
(1)
This section applies if a company claims F1a BLAGAB tax credit to which it is entitled for an accounting period.
(2)
For the purposes of F2section 73 of FA 2012 the amount which may be—
(a)
carried forward from the accounting period under F3that section as excess BLAGAB expenses, and
(b)
brought into account in accordance with F4step 5 in section 76 of FA 2012,
is treated as reduced by the amount of the surrendered loss for the period.
(3)
The “amount of the surrendered loss” for the period means the amount of the F5qualifying BLAGAB loss in respect of which the land remediation tax credit is claimed for the period.