Part 14Change in company ownership
F1CHAPTER 5AShell companies: restrictions on relief
Annotations:
Amendments (Textual)
Restrictions on relief
705ERestriction 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 debit of that period.
Pt. 14 Ch. 5A inserted (with effect in accordance with Sch. 13 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 13 para. 1(3)