Paragraph 686

(1)

Amend section 1223 (carrying forward expenses of management and other amounts) as follows.

(2)

In subsection (2)(b)—

(a)

for “charges on income paid” substitute “ qualifying charitable donations made ”, and

(b)

for “they are paid” substitute “ they are made ”.

(3)

Omit subsection (4).

(4)

In subsection (5) for the words from “section 392A(3)” to the end substitute “ section 63 of CTA 2010 (which is about unused losses made in a UK property business) ”.