# Corporation Tax Act 2010, Section 679: Restriction on debits to be brought into account


(1) This section has effect for the purpose of restricting the debits to be brought into account for the purposes of Part 5 of CTA 2009 (loan relationships) in respect of the company's loan relationships.
(2) The debits to be brought into account for the purposes of Part 5 of CTA 2009 for—
(a) the accounting period beginning immediately after the change in ownership, or
(b) any subsequent accounting period,
do not include relevant non-trading debits so far as amount A exceeds amount B.
(3) Amount A is the sum of—
(a) the amount of those relevant non-trading debits, and
(b) the amount of any relevant non-trading debits which have been brought into account for the purposes of that Part for any previous accounting period ending after the change in ownership.
(4) Amount B is the amount of the taxable total profits of the accounting period ending with the change in ownership.
(5) For the meaning of “relevant non-trading debit”, see section 730.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/679 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-679
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.