SCHEDULES

SCHEDULE 4Relief for carried-forward losses

PART 1Amendment of general rules about carrying forward losses

3Non-trading deficits from loan relationships

In section 456 (introduction to Chapter 16) in subsection (1)—

a

after “if” insert

—

a

b

at the end insert

, and

b

either—

i

that accounting period begins before 1 April 2017, or

ii

at the end of that accounting period the company is a charity