[Part 4 Post-Commencement Supplement]
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

[Part 4 Post-Commencement Supplement]

[Supplement in respect of a post-commencement period

15

(1)     A qualifying company which incurs a qualifying E&A loss (see paragraph 17) in a post-commencement period may claim supplement under this Part of this Schedule (“post-commencement supplementâ€) in respect of—

(a)     that period, or

(b)     any subsequent accounting period in which it carries on its ring fence trade.

(2)     Any post-commencement supplement allowed on a claim in respect of a post-commencement period shall be treated for the purposes of the Corporation Tax Acts (other than this Part of [this Schedule or [sections 321 to 329 of CTA 2010])] as if it were a loss—

(a)     incurred in carrying on the ring fence trade in that period,

(b)     which falls in whole to be set off under section 393 against trading income from the ring fence trade in succeeding accounting periods.

(3)     Paragraph 74 of Schedule 18 to the Finance Act 1998 (company tax returns etc: time limit for claims for group relief) shall apply in relation to a claim for post-commencement supplement as it applies in relation to a claim for group relief.

Amount of post-commencement supplement for a post-commencement period

16

(1)

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