SCHEDULES
SCHEDULE 4Relief for carried-forward losses
PART 1Amendment of general rules about carrying forward losses
Non-trading losses on intangible fixed assets
5
1
Section 753 of CTA 2009 (treatment of non-trading loss) is amended as follows.
2
In subsection (3) (carry forward of non-trading loss)—
a
in the words before paragraph (a), after “not” insert “
, in any period (“the reference period”)
”
;
b
in the words after paragraph (b) for “debit of” substitute “
loss on intangible fixed assets for
”
.
3
After subsection (3) insert—
4
But subsection (3) does not apply if the company ceased to be a company with investment business in the reference period.
5
In the application of subsection (3) to an amount of a loss previously carried forward under that subsection, the reference in paragraph (b) to group relief under Part 5 of CTA 2010 is to be read as a reference to group relief for carried-forward losses under Part 5A of that Act.
6
In this section “company with investment business” has the same meaning as in Part 16 (see section 1218B).