VCM49500 - VC loss relief: companies: adjustments to existing assessments

ICTA88/S576 (3)

Where an allowable loss has been set against chargeable gains in any CT assessment before the claim under ICTA88/S573 is received, you should adjust the CT assessment as necessary to ensure the loss is only allowed only once. The statutory authority for doing this is ICTA88/S576 (3), which permits any adjustments required.