# Corporation Tax Act 2010, Section 269ZJ: Exclusion of shock losses from restrictions

Extent: E+W+S+N.I.

(1) If a shock loss is—
(a) carried forward to an accounting period of an insurance company (see section 269ZP(2)), and
(b) deducted under section 45B (post-1 April 2017 trade losses carried forward against trade profits),
the deduction is to be treated as not falling within section 269ZB(3).
(2) If a shock loss is—
(a) carried forward to an accounting period of an insurance company, and
(b) deducted under section 463H of CTA 2009 (carry forward of unrelieved non-trading deficit from loan relationships against non-trading profits),
the company is to be treated for the purposes of sections 269ZC and 269ZD(2)(b)(ii) as not having made that deduction.
(3) If an insurance company makes a deduction of (or in respect of) a shock loss, that deduction is not a “relevant deduction” for the purposes of section 269ZD (restriction on deductions from total profits).
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

---
Source: https://www.legislation.gov.uk/ukpga/2010/4/section/269ZJ (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-269ZJ
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.