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CTA10/S676AF, S676AH-AK

Where the restriction under CTA10/PART14/CH2A applies, a company is prevented from setting certain losses and other amounts against its affected profits.

Losses are only restricted if they are incurred;

· Before the change in ownership, and

· On or after 1 April 2017.

This means that the company will need to apportion amounts if it has an accounting period that begins before and ends after the change in ownership.

»Ê¹ÚÌåÓýapp company is prevented from deducting restricted losses from affected profits under any of the following provisions:

· Post-April 2017 trade losses carried forward against total profits (CTA10/S45A(5)),

· Terminal relief for trade losses carried forward (CTA10/S45F(3)),

· Excess carried-forward non-decommissioning losses of oil and gas ring fence trades (CTA10/S303C(3)),

· Excess carried-forward BLAGAB trade losses (FA12/S124B(3)),

· Non-trading deficits from loan relationships carried forward against total profits (CTA09/S463G),

· Non-trading losses on intangible fixed assets carried forward (CTA09/S753(3)),

· Expenses of management carried forward (CTA09/S1219, S1223),

· Allowances treated as expenses of management under CAA01/S253 and CTA09/S1233 and carried forward as above,

· UK property business losses carried forward (CTA10/S62(5), S63(3)).

»Ê¹ÚÌåÓýapp restriction also prevents the company from bringing certain debits into account.