Finance Act 2017

• Permanent Page URL

Amendment of section 769K of Principal Act (adaptation of provisions relating to relief for relevant trading losses and relevant charges on income)

21. Section 769K of the Principal Act is amended—

(a) in subsection (2) by substituting “a company” for “a relevant company”, and

(b) by inserting the following after subsection (2):

“(3) For the purposes of determining the amount of relief available for relevant trading charges or relevant trading losses, as the case may be, after the making of a claim for relief under any of the provisions referred to in subsection (2) as applied by that subsection (in this subsection referred to as ‘the first-mentioned claim’), the amount of relevant trading charges or relevant trading losses, as the case may be, available for any subsequent claims shall be reduced by 200 per cent of the amount claimed under the first-mentioned claim.”.