GREIT03110 – Entry to the regime: effects of entry: other expenses etc pre- entry periods
The table below sets out the position for utilising expenses, deficits etc arising in accounting periods up to the date the UK-ICTA rules first apply and which have not been offset against other profits of pre-entry accounting periods, either in the same company or surrendered as group relief. See GREIT03100 for descriptions of terms used below.
Table 3: other expenses, losses etc
| Description | Type of loss etc | Can be used against |
| Losses brought forward against certain investment income | section 393(8) ICTA | Same type of investment income of C (residual) |
| Unused non-trading loan relationship and derivative contract deficits | section 83 FA 1996 (financial instruments) | Non-trading profits of C (residual) (even if deficit relates to financing costs etc of qualifying property business carried on pre-entry) |
| CVS loss relief | Section 573 ICTA | Investment companies only |
| Excess management expenses | Section 75 ICTA | Profits of C (residual) (even if excess related to managing subsidiaries that operated qualifying property business pre-entry) |
| Interest distributions | Section 469L ICTA | AIFs only |
| CAs for management of business | Investment companies only | |
| Unused non-trading losses on intangible fixed assets | Paragraph 35(3) Schedule 29 FA 2002. | Future profits of C (residual) |
| Non-trade CAs | Future profits of C (residual) | |
| Excess charges paid | Section 338(4) ICTA | No carry forward (relief restricted to payments made in the accounting period) |
See
GREIT03100 and
GREIT03105 for Tables 1 and 2: capital
and trading losses etc.
