Section 463A | Introduction to Chapter

(1)This Chapter applies if—

(a)for any accounting period beginning on or after 1 April 2017 a company has a non-trading deficit from its loan relationships under section 301(6), and

(b)at the end of that accounting period the company is not a charity.

(2)In this Chapter “the deficit” and “the deficit period” mean that deficit and that period respectively.

(3)Sections 463B and 463C deal with claims to set off the deficit against profits of the deficit period or earlier periods.

(4)Sections 463D to 463F deal with the consequences of such claims.

(5)Sections 463G to 463I provide for so much of the deficit as is not—

(a)set off against profits under section 463B, or

(b)surrendered as group relief under Part 5 of CTA 2010,

to be carried forward to later accounting periods.