# Finance Act 2019, Paragraph 18


(1) Paragraphs 16 and 17 are subject to this paragraph.
(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—
(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
(b) paragraph 17 does not apply to the difference.

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Source: https://www.legislation.gov.uk/ukpga/2019/1/schedule/15/paragraph/18 (the official version)
Page: https://openlegislation.uk/finance-act-2019/schedule-15/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.