SCHEDULES
SCHEDULE 4Relief for carried-forward losses
PART 2Restriction on deductions in respect of carried-forward losses
19
1
Section 269CB (restriction on deductions for pre-1 April 2015 non-trading deficits from loan relationships) is amended as follows.
2
In subsection (2), in the second sentence—
a
for “269CD” substitute “
269ZF
”
, and
b
for “step 6 in subsection (1)” substitute “
subsection (2)
”
.
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 non-trading profits for the period, the amount given by step 1 in section 269ZF(3) is not greater than nil
”