1048 Treatment of deemed trading loss under section 1045
Corporation Tax Act 2009 (2009 c 4) | Legislation

1048  Treatment of deemed trading loss under section 1045

(1)     This section applies if under section 1045 a company is treated as making a trading loss in an accounting period [(“the deemed loss-making period”)].

(2)     The trading loss may not be [deducted from] profits of a preceding accounting period under [section 37(3)(b) or 42 of CTA 2010] unless the company is entitled to relief under section 1045 for the earlier period.

(3)     Subsection (4) applies if—

[(za)     the deemed loss-making period begins before 1 April 2017,]

(a)     the company begins, in [the deemed loss-making period] or a later period, to carry on a trade, and

(b)     the trade is derived from the research and development in relation to which the relief mentioned in subsection (1) was

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