COM50012 - Claims / reliefs: loss and non-trading deficits carry-back: legislation: how COTAX treats carry-backs

Section

Explanation

87A(4A) TMA 1970

Rules for determining the amount of late payment interest payable when a non-trading deficit is carried back to an earlier AP

87A(6) TMA 1970

Rules for determining the amount of late payment interest payable when

• A trade loss is carried back to an AP not falling wholly within the previous 12 months

87A(7) TMA 1970

Rules for determining the amount of late payment interest payable when

• Liability to CT is met by surplus ACT displaced by a loss carry-back

And

• The ACT is itself carried back to an earlier AP

826(7A) ICTA 1988

Rules for determining the amount of repayment interest allowable when

• A trade loss is carried back to an AP not falling wholly within the previous 12 months

826(7AA) TMA 1970

Rules for determining the amount of repayment interest payable when

• A repayment of CT is created by surplus ACT displaced by a loss carry-back

And

• The ACT is itself carried back to an earlier AP

826(7C) ICTA 1988

Rules for determining the amount of repayment interest allowable when a non-trading deficit is carried back to an earlier AP