# Finance (No. 2) Act 2017, Paragraph 20


(1) Section 269CC (restriction on deductions for pre-1 April 2015 management expenses etc) is amended as follows.
(2) In subsection (3) for the words from “does not apply” to the end substitute “ is subject to subsection (8) ”.
(3) In subsection (7)—
(a) in the second sentence of step 1, for “269CD” substitute “ 269ZD(5) ”,
(b) in step 2 for the words from “which are” to the end substitute
“under—
(a) section 45 (carry forward of pre-1 April 2017 trade loss against subsequent trade profits),
(b) section 45B (carry forward of post-1 April 2017 trade loss against subsequent trade profits), or
(c) section 457 of CTA 2009 (carry forward of pre-1 April 2017 non-trading deficits from loan relationships).”
(4) After subsection (7) insert—
“(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.”

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Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/4/paragraph/20 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-4/paragraph-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.