COM110122 - Pursuit: automatic and clerical pursuit: legislation: losses carried back

The table below gives a brief explanation of what the legislation relevant to this subject contains.

Legislation	Explanation
87A TMA 1970	Charges late payment interest on mainstream CT
87A(4A) TMA 1970	Provides that a carry-back of a non-trading deficit on loan relationships is not effective for late payment interest purposes until the normal due date for the AP in which the deficit arises
87A(6) TMA 1970	Provides that a carry-back of a trading loss is not effective for interest purposes until the normal due date for the AP in which the loss is incurred, unless the carry-back is for not more than twelve months
39 F(No2)A 1997	Amends S393A ICTA 1988, so that losses arising in APs ending on or after 02/07/1997, may only be carried back for a period of one year.
40 F(No2)A 1997	Amends S83(2) FA 1996, so that non trading deficits arising in APs ending on or after 02/07/1997, may only be carried back for a period of one year.