COM50031 - Claims/reliefs: loss and non-trading deficits carry-back: legislation: non-trading deficit c/b & late payment interest
The table below gives a brief explanation of what the legislation relevant to this subject contains.
Section | Explanation |
S459(1), s462 and s463(1) CTA 2009 | Allows a company to carry back a non-trading deficit and set it against profits and gains arising on loan relationships for twelve months preceding the deficit period. |
87A(4A) TMA 1970 | Rules for determining the amount of late payment interest payable when a non-trading deficit is carried back to an earlier AP. |