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Corporation Tax Act 2010

Section 44: Trade must be commercial or carried on for statutory functions

184.This section denies relief in relation to losses arising from trades which are not commercial. It is based on section 393A(3) and (4) of ICTA.

185.Subsection (1) refers to the making of a profit in the trade. “Profit” in this instance, as the context suggests, has its ordinary commercial meaning.

186.Subsection (2) provides for the case where the trade is carried on as part of a larger undertaking. In such a case the larger undertaking (that is, the undertaking as a whole) may be carried on with a view to the realisation of profits even if the trade itself is not.

187.In subsection (4)the reference to an Act includes Acts of the Scottish Parliament. See Change 6 in Annex 1.

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