Finance (No. 2) Act 2017

19 (1) Section 269CB (restriction on deductions for pre-1 April 2015 non-trading deficits from loan relationships) is amended as follows.

(2) In subsection (2), in the second sentence—

(a) for “269CD” substitute “269ZF”, and

(b) for “step 6 in subsection (1)” substitute “subsection (2)”.

(3) In subsection (3), for the words from “where” to the end substitute “in relation to a banking company for an accounting period where, in determining the company’s relevant non-trading profits for the period, the amount given by step 1 in section 269ZF(3) is not greater than nil”