Section 463A | Introduction to Chapter ^F1

(1)This Chapter applies if—^F1

(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^F1

(b)at the end of that accounting period the company is not a charity.^F1

(2)In this Chapter “the deficit” and “the deficit period” mean that deficit and that period respectively.^F1

(3)Sections 463B and 463C deal with claims to set off the deficit against profits of the deficit period or earlier periods.^F1

(4)Sections 463D to 463F deal with the consequences of such claims.^F1

(5)Sections 463G to 463I provide for so much of the deficit as is not—^F1

(a)set off against profits under section 463B, or^F1

(b)surrendered as group relief under Part 5 of CTA 2010,^F1

to be carried forward to later accounting periods.