COM50012 - Claims/reliefs: loss and non-trading deficits carry-back: legislation: how COTAX treats carry-backs
The table below gives a brief explanation of what the legislation relevant to this subject contains.
Section | Explanation |
87A(4A) Taxes Management Act (TMA) 1970 | Rules for determining the amount of late payment interest payable when a non-trading deficit is carried back to an earlier AP. |
87A(6) TMA 1970 | Rules for determining the amount of late payment interest payable when a trade loss is carried back to an AP not falling wholly within the previous 12 months. |
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. |
826(7C) ICTA 1988 | Rules for determining the amount of repayment interest allowable when a non-trading deficit is carried back to an earlier AP. |