Related Commentary  

27(1)  For the purposes of corporation tax–

(a)trading income arising or accruing to the NDA or an NDA company from the carrying on of exempt activities shall be disregarded in computing the total profits of the NDA or that company; and

(b)trading losses incurred by the NDA or an NDA company in the carrying on of exempt activities shall be disregarded in determining the amounts that may be–

(i)relieved under section 37, 45, 45A, 45B or 45F of the Corporation Tax Act 2010 (relief for trading losses),

(ii)surrendered under Part 5 of that Act (group relief), or

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