Related Commentary  Related HMRC Manuals

389(1)  If the deficit exceeds the income and gains for the deficit period referred to in section 388(1), the company may make a claim for the whole or part of the excess (“the claim amount”)–

(a)to be carried back for up to 3 accounting periods ending within the permitted period, and

(b)to be set off against the available profits of the company in those periods in accordance with subsection (2).

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