SCHEDULES

SCHEDULE 4Corporate capital losses

PART 1Corporate capital loss restriction

Minor and consequential amendments to Part 7ZA of CTA 2010

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1

Section 269ZF (“relevant trading profits” and “relevant non-trading profits”) is amended in accordance with this paragraph.

2

In subsection (2)—

a

for “ “relevant non-trading profits””, in both places it occurs, substitute “ “relevant non-trading income profits” ”,

b

in paragraph (a), for “qualifying non-trading profits” substitute “ qualifying non-trading income profits ”, and

c

in paragraph (b) for “non-trading profits deductions allowance” substitute “ non-trading income profits deductions allowance ”.

3

In subsection (3), in the words before step 1, for “and qualifying non-trading profits” substitute “ , qualifying non-trading income profits and qualifying chargeable gains ”.

4

In subsection (3), in paragraph (3) of step 1—

a

for “and relevant non-trading profits” substitute “ , qualifying non-trading income profits and qualifying chargeable gains ”, and

b

for “both” substitute “ each ”.

5

In subsection (3), in paragraph (3) of step 2—

a

for “and the qualifying non-trading profits” substitute “ , qualifying non-trading income profits and qualifying chargeable gains ”, and

b

for “both” substitute “ each ”.

6

In the heading, for “and “relevant non-trading profits”” substitute “ , “total relevant non-trading profits” etc ”.