Section 680 | Restriction on the carry forward of non-trading deficit from loan relationships

(1)This section has effect for the purpose of restricting the carry forward of a non-trading deficit from the company's loan relationships under Part 5 of CTA 2009 (loan relationships).

(2)Subsection (3) applies if the non-trading deficit in column 1 of row 4 of the table in section 685(2) is apportioned in accordance with section 685(2) to the first notional accounting period.

(3)None of that non-trading deficit may be carried forward to—

(a)the accounting period beginning immediately after the change in ownership, or

(b)any subsequent accounting period.