Part 13Additional relief for expenditure on research and development
Chapter 2Relief for SMEs: cost of R&D incurred by SME
Reliefs: further provision
1048Treatment of deemed trading loss under section 1045
1
This section applies if under section 1045 a company is treated as making a trading loss in an accounting period.
2
3
Subsection (4) applies if—
a
the company begins, in the accounting period or a later period, to carry on a trade, and
b
the trade is derived from the research and development in relation to which the relief mentioned in subsection (1) was obtained.
4
In that case, so far as—
a
the company has not obtained relief in respect of the trading loss under any other provision, and
b
the loss has not been surrendered under F3Part 5 of CTA 2010 (group relief),
the trading loss is to be treated as if it were a loss of that trade brought forward under F4section 45 of CTA 2010 (relief of trading losses against future trading profits).
5
Subsection (4) is subject to section 1062 (restriction on losses carried forward where tax credit claimed).