{
  "url": "https://openlegislation.uk/finance-act-2019/schedule-15/paragraph-18",
  "json_url": "https://openlegislation.uk/finance-act-2019/schedule-15/paragraph-18.json",
  "legislation": "ukpga/2019/1",
  "legislation_title": "Finance Act 2019",
  "legislation_url": "https://openlegislation.uk/finance-act-2019",
  "path": "schedule/15/paragraph/18",
  "kind": "paragraph",
  "number": "18",
  "heading": null,
  "text": "(1) Paragraphs 16 and 17 are subject to this paragraph.\n(2) If, on or after the licence transfer date, the seller's eligible ring fence profits for a pre-transfer accounting period are reduced to an amount which is lower than the transferred profits amount for that period—\n(a) the seller is treated as incurring a loss in a ring fence trade, of an amount equal to the difference, for the accounting period, and\n(b) paragraph 17 does not apply to the difference.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2019/1/schedule/15/paragraph/18",
    "retrieved_at": "2026-10-29T09:04:30.296814+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}