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Corporation Tax Act 2010
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Changes over time for: Section 398D
Alternative versions:
- 08/04/2010- Amendment
- 17/07/2012- Amendment
- 18/11/2015- Amendment
- 16/11/2017- Amendment
- 31/12/2023
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Corporation Tax Act 2010, Section 398D is up to date with all changes known to be in force on or before 30 December 2024. 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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[F1398D Restrictions on use of losses etc U.K.
This section has no associated Explanatory Notes
(1)No loss may be deducted under—
(a)Chapter 2 of Part 4,
(b)section 62, or
(c)section 189,
from so much of the total profits of A as are attributable to the carrying on of the relevant activity except to the extent that the loss or charge is attributable to the carrying on of the relevant activity.
(2)Group relief is not to be given under Part 5 against so much of the total profits of A as are attributable to the carrying on of the relevant activity.
[F2(2A)Group relief for carried-forward losses is not to be given under Part 5A against so much of the total profits of A as are attributable to the carrying on of the relevant activity.]
(3)No deficit may be set off under section 461 of CTA 2009 (non-trading deficit from loan relationship) against profits attributable to the carrying on of the relevant activity except to the extent that the deficit is attributable to the carrying on of the relevant activity.
(4)No loss may be set off under section 753 of CTA 2009 (non-trading loss on intangible fixed assets) against so much of the total profits of A as are attributable to the carrying on of the relevant activity except to the extent that the loss or charge is attributable to the carrying on of the relevant activity.
(5)No deduction is to be allowed under section 1219 of CTA 2009 (expenses of management of investment business) from so much of the total profits of A as are attributable to the carrying on of the relevant activity except to the extent that the expenses concerned are attributable to the carrying on of the relevant activity.
F3(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(6A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)If A would otherwise be a tonnage tax company under Schedule 22 to FA 2000 (tonnage tax) it is to be treated as not being such a company.]
Textual Amendments
F1 Ss. 398A-398G and cross-heading inserted (with effect in accordance with Sch. 18 para. 9 of the amending Act) by Finance Act 2010 (c. 13), Sch. 18 para. 6 (with Sch. 18 paras. 11-13)
F2S. 398D(2A) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 165
F3S. 398D(6)(6A) omitted (18.11.2015) (with effect in accordance with s. 36(3)-(5) of the amending Act) by virtue of Finance (No. 2) Act 2015 (c. 33), s. 36(2)(a)
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