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Changes over time for: Section 676AI


Timeline of Changes
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Status:
Point in time view as at 24/02/2022.
Changes to legislation:
Corporation Tax Act 2010, Section 676AI is up to date with all changes known to be in force on or before 12 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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[676AIRestriction on relief for post-1 April 2017 non-trading loss on intangible fixed assetsU.K.
This section has no associated Explanatory Notes
(1)This section has effect for the purpose of restricting relief under section 753 of CTA 2009 (treatment of non-trading losses) in respect of a relevant non-trading loss on intangible fixed assets.
(2)An amount is a “relevant non-trading loss on intangible fixed assets” if and so far as—
(a)it is by virtue of section 751 of CTA 2009 a non-trading loss on intangible fixed assets for a relevant pre-acquisition accounting period, or
(b)it is made up of an amount falling within paragraph (a) which has been carried forward under section 753(3) of CTA 2009.
(3)“Relevant pre-acquisition accounting period” means an accounting period beginning—
(a)before the change in ownership, and
(b)on or after 1 April 2017.
(4)In the case of a relevant non-trading loss on intangible fixed assets, relief under section 753 of CTA 2009 against the total profits of the actual accounting period is available only in relation to each of the notional accounting periods considered separately.
(5)A relevant non-trading loss on intangible fixed assets may not be deducted as a result of section 753(3) of CTA 2009 (losses carried forward) from affected profits of an accounting period ending after the change in ownership.]
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