Related Commentary  

1306(1)  The same rules apply for corporation tax purposes in calculating a company's miscellaneous losses as apply in calculating corresponding miscellaneous income.

1306(2)  This is subject to any express provision to the contrary.

1306(3)  In this section–

(a)“miscellaneous income” means profits or other income of the company charged to corporation tax under or by virtue of a provision to which section 1173 of CTA 2010 applies, and

(b)“miscellaneous losses” means losses in transactions in respect of which the company is within the charge to corporation tax under or by virtue of such a provision.

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