Part 14 U.K. Remediation of contaminated [F1 or derelict] land

Textual Amendments

F1 Words in Pt. 14 heading inserted (with effect in accordance with Sch. 7 paras. 27, 28 of the amending Act) by Finance Act 2009 (c. 10), Sch. 7 para. 2

Chapter 4 U.K. Special provision for [F2 BLAGAB]

Textual Amendments

F2 Words in Pt. 14 Ch. 4 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 195

[F3 BLAGAB] company tax credits U.K.

Textual Amendments

F3 Words in s. 1164 cross-heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 200

1168 Restriction on carrying forward expenses payable where tax credit claimed U.K.

(1) This section applies if a company claims [F4 a BLAGAB tax credit] to which it is entitled for an accounting period.

(2) For the purposes of [F5 section 73 of FA 2012] the amount which may be—

(a) carried forward from the accounting period under [F6 that section as excess BLAGAB expenses], and

(b) brought into account in accordance with [F7 step 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 [F8 qualifying BLAGAB loss] in respect of which the land remediation tax credit is claimed for the period.

Textual Amendments

F4 Words in s. 1168(1) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 205(2)

F5 Words in s. 1168(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 205(3)(a)

F6 Words in s. 1168(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 205(3)(b)

F7 Words in s. 1168(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 205(3)(c)

F8 Words in s. 1168(3) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 205(4)