Paragraph 194

(1)

Section 1158 (restriction on losses carried forward where tax credit claimed) is amended as follows.

(2)

In subsection (3)—

(a)

for paragraph (a) substitute—

“(a)
as a result of section 87(3) of FA 2012, a company's UK property business loss is treated for the purposes of section 76 of that Act as a deemed BLAGAB management expense for the accounting period,” and

(b)

in paragraph (b), for “section 76(12) of ICTA” substitute “ section 73 of FA 2012 ”.

(3)

In subsection (4), for “section 76(12) of ICTA” substitute “ section 73 of FA 2012 ”.