{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-4/paragraph-20",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-4/paragraph-20.json",
  "legislation": "ukpga/2017/32",
  "legislation_title": "Finance (No. 2) Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2017",
  "path": "schedule/4/paragraph/20",
  "kind": "paragraph",
  "number": "20",
  "heading": null,
  "text": "(1) Section 269CC (restriction on deductions for pre-1 April 2015 management expenses etc) is amended as follows.\n(2) In subsection (3) for the words from “does not apply” to the end substitute “ is subject to subsection (8) ”.\n(3) In subsection (7)—\n(a) in the second sentence of step 1, for “269CD” substitute “ 269ZD(5) ”,\n(b) in step 2 for the words from “which are” to the end substitute\n“under—\n(a) section 45 (carry forward of pre-1 April 2017 trade loss against subsequent trade profits),\n(b) section 45B (carry forward of post-1 April 2017 trade loss against subsequent trade profits), or\n(c) section 457 of CTA 2009 (carry forward of pre-1 April 2017 non-trading deficits from loan relationships).”\n(4) After subsection (7) insert—\n“(8) Subsection (2) does not apply in relation to a banking company for an accounting period where, in determining the company's relevant profits for the period, the amount given by step 1 in section 269ZF(3) is not greater than nil.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/32/schedule/4/paragraph/20",
    "retrieved_at": "2026-10-29T09:05:16.335265+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."
}