Section 1152 | Meaning of “qualifying land remediation loss”

(1)For the purposes of this Chapter a company has a “qualifying land remediation loss” in an accounting period if in the period—

(a)it obtains an additional deduction under section 1149 in calculating the profits of a UK property business or a trade, and

(b)it makes a UK property business loss in the business or a trading loss in the trade.

(2)The amount of the qualifying land remediation loss is—

(a)so much of the UK property business loss or trading loss as is unrelieved (see section 1153), or

(b)if less, 150% of the qualifying land remediation expenditure in respect of which the relief was obtained.