Adjustment of certain sterling losses carried back to an earlier periodU.K.
12(1)This paragraph applies if—U.K.
(a)a loss arises in an accounting period ending on or after 1 April 2010,
(b)the loss is to be a carried-back amount that is to be carried back to an accounting period beginning before 29 December 2007, and
(c)apart from this paragraph section 14 would require the loss to be adjusted.
(2)Section 14 does not have effect in relation to the loss.
(3)In this paragraph “carried-back amount” has the same meaning as in Chapter 4 of Part 2 (see section 17(2)).