LAM14080 | Finance Act 2012 Transitional provisions: Carry forward trade profits, excess management expenses and BLAGAB trade losses: FA12/SCH17/PART2/PARA29 – PARA 24

Transitional provisions at FA12/SCH17/PART2/PARA29 – PARA 24 set out the rules for how unused losses and excess management expenses as at 31 December 2012 are to be carried forward and used against profits in the new regime.

The amounts should all be agreed in 2013 and these provisions should have no further impact. More detail is provided in the original guidance.