Version Superseded: 18/11/2015
Point in time view as at 26/03/2015.
There are currently no known outstanding effects for the Finance Act 2015, Cross Heading: TIOPA 2010.
6(1)In Part 9A of TIOPA 2010 (controlled foreign companies), in Chapter 21 (management), section 371UD (relief against sum charged) is amended as follows.U.K.
(2)In subsection (2), after “relevant allowance” insert “ (but see subsection (9)) ”.
(3)At the end insert—
“(9)A company which is a banking company (within the meaning of Part 7A of CTA 2010) for the relevant corporation tax accounting period may not make a claim under subsection (2) in respect of a relevant allowance consisting of—
(a)a pre-2015 carried-forward non-trading deficit (within the meaning of Chapter 3 of Part 7A of that Act), or
(b)pre-2015 carried-forward management expenses (within the meaning of that Chapter).”
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