{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-4/paragraph-49",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-4/paragraph-49.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/49",
  "kind": "paragraph",
  "number": "49",
  "heading": null,
  "text": "(1) Section 304 (losses) is amended as follows.\n(2) After subsection (1) insert—\n“(1A) Relief in respect of a loss incurred by a company may not be given against that company's ring fence profits under any provision listed in subsection (1B).\n(1B) The provisions are—\n(a) section 753 of CTA 2009 (non-trading losses on intangible fixed assets);\n(b) section 45A (carry forward of trade loss against total profits);\n(c) section 62(3) (relief for losses made in UK property business).”\n(3) In subsection (5), after “45” insert “ 45B, 303B(4) or 303D(5) ”.\n(4) After subsection (6) insert—\n“(7) A deduction in respect of a loss made in a ring fence trade is to be ignored for the purposes of section 269ZB (restriction on deductions from trading profits) if the deduction is under—\n(a) section 45 (carry forward of pre-1 April 2017 trade loss against subsequent profits), or\n(b) section 45B (carry forward of post-1 April 2017 trade loss against total profits).”",
  "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/49",
    "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."
}