# Corporation Tax Act 2009, Section 1260: Section 1259: supplementary


(1) In determining under section 1259 the profits of a trade for any accounting period no account is taken of any losses for another accounting period.
(2) Profits and losses are determined under section 1259 on the basis that no interest paid or other distribution made by the firm is a distribution for the purposes of section 1305(1) (which provides that no deduction is allowed for dividends or other distributions).

---
Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1260 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1260
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.