This section has no associated Explanatory Notes
667(1)Amend section 1048 (treatment of deemed trading loss under section 1045) as follows.U.K.
(2)In subsection (2)—
(a)for “set off against” substitute “ deducted from ”, and
(b)for “section 393A(1)(b) or 393B(3) of ICTA” substitute “ section 37(3)(b) or 42 of CTA 2010 ”.
(3)In subsection (4)—
(a)in paragraph (b) for “section 403(1) of ICTA (surrender of relief to group or consortium members)” substitute “ Part 5 of CTA 2010 (group relief) ”, and
(b)in the words after that paragraph for “section 393 of ICTA” substitute “ section 45 of CTA 2010 ”.