COM50041 - Claims/reliefs: loss and non-trading deficits carry-back: legislation: loss carry-back/repayment interest
The table below gives a brief explanation of what the legislation relevant to this subject contains.
Section | Explanation |
37(3)(b) Corporation Tax Act (CTA) 2010 | Allows a company to carry back a trade loss that cannot be utilised against profits arising in the Accounting Period (AP) in which the loss is incurred, for 12 months preceding the loss period. |
826(7A) Income and Corporation Taxes Act (ICTA) 1988 | Rules for determining the amount of repayment interest allowable when a trade loss is carried back to an AP not falling wholly within the previous 12 months. |