SCHEDULES
SCHEDULE 4Corporate capital losses
PART 1Corporate capital loss restriction
Minor and consequential amendments to Part 7A of CTA 2010
36
Part 7A of CTA 2010 (banking companies: restrictions on obtaining certain deductions) is amended as follows.
37
1
Section 269CB (restriction on deductions for non-trading deficits from loan relationships) is amended as follows.
2
In subsection (2)—
a
for “relevant non-trading profits”, in both places it occurs, substitute “
total relevant non-trading profits
”
, and
b
for “subsection (2)” substitute “
subsection (2B)
”
.
3
In subsection (3), for “relevant non-trading profits”, in both places it occurs, substitute “
total relevant non-trading profits
”
.
38
In section 269CN (definitions)—
a
omit the definition of “relevant non-trading profits”, and
b
at the end insert—
“total relevant non-trading profits”, in relation to a company, has the meaning given by section 269ZF(2B).