Section 357QH | Transfer of terminal loss ^F1F2

(1)Subsection (2) applies if—

(a)the Northern Ireland company ceases to carry on the separate trade in the accounting period,

(b)as a result, section 1179BG of CTA 2009 (transfer of terminal loss in separate production trade to other production or group company) applies, and

(c)the amount in respect of which it applies (see subsection (1)(b) of that section) represents a Northern Ireland loss.

(2)The references to a loss in subsections (2) and (3)(b) of that section are to be read as references to a Northern Ireland loss.