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Finance Act 2020
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- UK Public General Acts
- 2020 c. 14
- SCHEDULE 4
- PART 1
- Real estate investment trusts
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Real estate investment trustsU.K.
19U.K.Part 12 of CTA 2010 (real estate investment trusts) is amended as follows.
20U.K.In section 535B (use of pre-April 2019 residual business losses or deficits) at the end insert—
“(4)In determining, for the purposes of subsection (2)(a), the amount of allowable losses accruing on disposals made before 6 April 2019 which would otherwise have been deducted from gains accruing to residual business of the company, section 269ZBA (restriction on deductions) is to be ignored.”
21U.K.In section 550 (attribution of distributions) at the end insert—
“(4)In determining the amount of relevant non-chargeable gains for the purposes of this section, section 269ZBA (restriction on deductions) is to be ignored.”
22U.K.In section 556 (disposal of assets) in subsection (7), for “and 535A” substitute “ , 535A and 535B ”.
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