26.The section and Schedule extend the trade loss carry back rules for income tax and corporation tax. For income tax the rules are extended in relation to a trade loss (including a loss in a profession or vocation) made in tax year 2008-09 or 2009-10. For corporation tax the extension applies to trading losses arising in an accounting period ending after 23 November 2008 and before 24 November 2010. The extension has effect from 22 April 2009.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
