Related Commentary  

124D  [Omitted by FA 2019, s. 27 and Sch. 10, para. 20.]


In s. 124D omitted by FA 2019, s. 27 and Sch. 10, para. 20, with effect in relation to accounting periods beginning on or after 6 July 2018 (subject to FA 2019, Sch. 10, para. 32(2)). Former s. 124D read as follows:

“Restriction on deductions from BLAGAB trade profits

124D(1)  The sum of any deductions made by a company for an accounting period under sections 124(5), 124A(5) and 124C(6) may not exceed the relevant maximum.

But this is subject to subsection (6).

124D(2)  In this section the “relevant maximum” means the sum of–

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