Corporation Tax Act 2010 Explanatory Notes

Section 70: Entitlement to claim

264.This section deals with the making of a claim for share loss relief. It is based on section 573(2) and (3) of ICTA.

265.Share loss relief is obtained by way of a deduction in calculating the investor company’s income for corporation tax purposes.

266.Subsection (3) makes clear that the words “if the company was then an investment company”in section 573(2)(b) of ICTA require that the company is an investment company throughout the relevant accounting period.

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