Section 357SG | Use of losses in later periods

(1)Section 1216DB of CTA 2009 (use of losses in later periods) has effect subject as follows.

(2)The reference in subsection (2) of that section to a loss made in the separate programme trade is, in relation to a loss made in a period in which the company is a Northern Ireland company, a reference to—

(a)any Northern Ireland losses of the trade of the period, or

(b)any mainstream losses of the trade of the period;

and references to losses in subsections (3) and (6) of that section are to be read accordingly.

(3)The reference in subsection (4) of that section to a loss made in the separate programme trade in a relevant later period is, where the company is a Northern Ireland company in the period, a reference to—

(a)any Northern Ireland losses of the trade of the period, or

(b)any mainstream losses of the trade of the period;

and references to losses in subsections (5), (5A) and (6) of that section are to be read accordingly.

(4)Subsection (6) of that section has effect, in relation to Northern Ireland losses, as if the reference to an additional deduction under Chapter 3 of Part 15A of that Act included a reference to a Northern Ireland supplementary deduction under this Chapter.