C1C2Part 14Change in company ownership
Pt. 14 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 18 (with ss. 15(1), 16(1), 17)
Chapter 3Company with investment business: restrictions on relief: general provision
Restrictions on relief
681Restriction on relief for non-trading loss on intangible fixed assets
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 non-trading loss on intangible fixed assets.
2
Relief under section 753 of CTA 2009 against the total profits of the same accounting period is available only in relation to each of the notional accounting periods considered separately.
3
A non-trading loss on intangible fixed assets for an accounting period beginning before the change in ownership may not be—
a
carried forward under section 753(3) of that Act to an accounting period ending after the change in ownership, or
b
treated under that section as if it were a non-trading F1loss on intangible fixed assets for that period.
Pt. 14 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 20