SCHEDULES

SCHEDULE 4Relief for carried-forward losses

PART 2Restriction on deductions in respect of carried-forward losses

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1

Section 269CA (restriction on deductions for pre-1 April 2015 trading losses) is amended as follows.

2

In subsection (2), in the second sentence—

a

for “269CD” substitute “ 269ZF ”, and

b

omit “step 5 in”.

3

In subsection (3), for the words from “where” to the end substitute “ in relation to a banking company for an accounting period where, in determining the company's relevant trading profits for the period, the amount given by step 1 in section 269ZF(3) is not greater than nil ”.