SCHEDULES
SCHEDULE 4Corporate capital losses
PART 1Corporate capital loss restriction
Minor and consequential amendments to Part 7ZA of CTA 2010
29
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
”
.