193(1)Section 1153 (land remediation tax credit: amount of a loss which is “unrelieved”) is amended as follows.
(2)In subsection (3), for the words from “, as a result of section 432AB(3) of ICTA,” to the end substitute “, as a result of section 87(3) of FA 2012, the loss is treated for the purposes of section 76 of that Act as a deemed BLAGAB management expense for the relevant accounting period.”
(3)In subsections (4) to (6), for “section 76(12) of ICTA” substitute “section 73 of FA 2012”.
(4)In subsection (7), for paragraph (b) substitute—
“(b)taken into account in calculating for the purposes of section 73 of FA 2012 the amount of adjusted BLAGAB management expenses of the company for the relevant accounting period as a result of—
(i)the previous application of section 73 or 93 of FA 2012, or
(ii)the carry forward to the relevant accounting period of an amount under section 391 of this Act (surplus deficit).”
(5)In subsection (8)—
(a)in paragraph (b), for “section 432AA of ICTA” substitute “section 86 of FA 2012”, and
(b)in the words after that paragraph, for “section 432AB(4) of ICTA” substitute “section 87(4) of FA 2012”.