For accounting periods ending on or after 1 April 2009, a company which makes a loss on a miscellaneous transaction can offset that loss against the earliest available miscellaneous income (being income chargeable under CTA 2010, s. 1173, with the exception of offshore income gains), whether in the same or subsequent accounting periods (CTA 2010, s. 91). A transaction is a miscellaneous transaction if, had it given rise to income, that income would have been chargeable to corporation tax as miscellaneous income (i.e. under CTA 2010, s. 1173 with the exception of offshore income gains).

Relief under CTA 2010, s. 91 is given automatically; there is no need to make a claim.

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