Paragraph 37

(1)

Section 269CB (restriction on deductions for non-trading deficits from loan relationships) is amended as follows.

(2)

In subsection (2)—

(a)

for “relevant non-trading profits”, in both places it occurs, substitute “ total relevant non-trading profits ”, and

(b)

for “subsection (2)” substitute “ subsection (2B) ”.

(3)

In subsection (3), for “relevant non-trading profits”, in both places it occurs, substitute “ total relevant non-trading profits ”.