27 Tax exemption for NDA activities
Energy Act 2004 (2004 c 20) | Legislation

27  Tax exemption for NDA activities

(1)     For the purposes of corporation tax—

(a)     trading income arising or accruing to the NDA or an NDA company from the carrying on of exempt activities shall be disregarded in computing the total profits of the NDA or that company; and

(b)     trading losses incurred by the NDA or an NDA company in the carrying on of exempt activities shall be disregarded in determining the amounts that may be[—

(i)     relieved under section 37, 45, 45A, 45B or 45F of the Corporation Tax Act 2010 (relief for trading losses),

(ii)     surrendered under Part 5 of that Act (group relief), or

(iii)     surrendered under Part 5A of that Act (group relief for carried-forward losses)].

(2)     Schedule 4 (which makes further provision for the purposes of the exemption granted by this section) has effect.

(3)     Activities are exempt for the purposes of this section and Schedule 4 if they—

(a)     are activities carried on in connection with anything mentioned in section 3(1); and

(b)     are specified for the purposes of this section

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