{
  "url": "https://openlegislation.uk/finance-act-2019/schedule-15/paragraph-46",
  "json_url": "https://openlegislation.uk/finance-act-2019/schedule-15/paragraph-46.json",
  "legislation": "ukpga/2019/1",
  "legislation_title": "Finance Act 2019",
  "legislation_url": "https://openlegislation.uk/finance-act-2019",
  "path": "schedule/15/paragraph/46",
  "kind": "paragraph",
  "number": "46",
  "heading": null,
  "text": "(1) This paragraph applies for the purposes of Steps 1 and 2 of paragraph 44.\n(2) If the loss period is the first activation period, the reference to the “unused transferred profits amount” for a pre-acquisition accounting period is a reference to the transferred profits amount for that period.\n(3) If the loss period is a post-activation period, the reference to the “unused transferred profits amount” for a pre-acquisition accounting period is a reference to the amount equal to—\n(a) the transferred profits amount for the pre-acquisition accounting period, less\n(b) the total of the amounts applied for the pre-acquisition accounting period in accordance with paragraph 25, for the purposes of the application of that paragraph in relation to the first activation period or an earlier post-activation period.",
  "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/46",
    "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."
}