PART 8B Trading profits taxable at the Northern Ireland rate

CHAPTER 14B Museums and galleries exhibition tax relief

Losses of separate exhibition trade

357UY Terminal losses
(1) Section 1218ZDC of CTA 2009 (terminal losses) has effect subject as follows.
(2) Where—
(a) a company makes an election under subsection (3) of that section (election to treat terminal loss as loss brought forward of different trade) in relation to all or part of a terminal loss, and
(b) the terminal loss is a Northern Ireland loss,
that subsection has effect as if the reference in it to a loss brought forward were to a Northern Ireland loss brought forward.
(3) Where—
(a) a company makes a claim under subsection (6) of that section (claim to treat terminal loss as loss brought forward by different company) in relation to part or all of a terminal loss, and
(b) the terminal loss is a Northern Ireland loss,
that subsection has effect as if the reference in it to a loss brought forward were to a Northern Ireland loss brought forward.
Pt. 8B Ch. 14B inserted (with effect in accordance with Sch. 6 para. 20 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 17
Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1