Clause 126 - Restrictions in respect of non-trading deficit

Part of Finance Bill – in a Public Bill Committee am 11:15 am ar 19 Mehefin 2012.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Amendments made: 135, in clause 126, page 76, line 13, leave out from ‘any’ to end of line 15 and insert ‘relevant non-trading deficit which the company has for the accounting period.’.

Amendment 136, in clause 126, page 76, line 15, at end insert—

‘(2) The reference to a relevant non-trading deficit for an accounting period is a reference to the non-trading deficit which the company would have under section 388 of CTA 2009 (loan relationships and derivative contracts) if credits and debits given in respect of the company’s creditor relationships (within the meaning of Part 5 of that Act) were ignored.’.—(Mr Hoban.)