# Corporation Tax Act 2010, Section 676AF: Restriction on use of carried-forward post-1 April 2017 trade losses

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

(1) A loss made by the transferred company in an accounting period beginning before the change in ownership may not be deducted from affected profits of an accounting period ending after the change in ownership under any of the following provisions—
(a) section 45A(5) (carry-forward of post-1 April 2017 trade losses),
(b) section 45F(3) (carried-forward losses: terminal relief),
(c) section 303C(3) (excess carried-forward non-decommissioning losses of ring fence trade), and
(d) section 124B(3) of FA 2012 (excess carried-forward BLAGAB trade losses).
(2) A loss made by another company (“the predecessor company”) in an accounting period beginning before the change in ownership may not be deducted from affected profits of an accounting period ending after the change in ownership under any of the provisions mentioned in paragraphs (a) to (c) of subsection (1) (as applied by virtue of Chapter 1 of Part 22 (transfers of trades)).

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/676AF (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-676AF
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.