Taxes Consolidation Act 1997 section 396B

Relief for certain trading losses on a value basis

Section 396B provides relief on a value basis for relevant trading losses (losses arising in a trade taxed at the standard 12.5% corporation tax rate) that cannot otherwise be relieved, by reducing the relevant corporation tax payable for the accounting period.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.