49(1)Section 304 (losses) is amended as follows.
(2)After subsection (1) insert—
“(1A)Relief in respect of a loss incurred by a company may not be given against that company’s ring fence profits under any provision listed in subsection (1B).
(1B)The provisions are—
(a)section 753 of CTA 2009 (non-trading losses on intangible fixed assets);
(b)section 45A (carry forward of trade loss against total profits);
(c)section 62(3) (relief for losses made in UK property business).”
(3)In subsection (5), after “45” insert “45B, 303B(4) or 303D(5)”.
(4)After subsection (6) insert—
“(7)A deduction in respect of a loss made in a ring fence trade is to be ignored for the purposes of section 269ZB (restriction on deductions from trading profits) if the deduction is under—
(a)section 45 (carry forward of pre-1 April 2017 trade loss against subsequent profits), or
(b)section 45B (carry forward of post-1 April 2017 trade loss against total profits).”