Part 5Loan Relationships
Chapter 16Non-trading deficits
456Introduction to Chapter
1
This Chapter applies if for any accounting period a company has a non-trading deficit from its loan relationships under section 301(6).
2
In this Chapter “the deficit” and “the deficit period” mean that deficit and that period respectively (but see section 458(5)).
3
Sections 457 and 458 set out the rules about carrying the deficit forward to later accounting periods.
4
Sections 459 and 460 deal with claims for the deficit to be dealt with differently.
5
Sections 461 to 463 deal with the consequences of such claims.