Corporation Tax Act 2009 section 300

Method of bringing non-trading deficits into account

Section 300 explains how a company's non-trading deficits from its loan relationships must be brought into account for corporation tax purposes.

• Any non-trading deficit from a company's loan relationships must be dealt with in accordance with Chapter 16 of Part 5 of the Act, which covers non-trading deficits
• The definition and calculation of a non-trading deficit is set out in section 301
• These rules apply even if none of the company's loan relationships is treated as a source of income
• The requirement to account for non-trading deficits under Chapter 16 is mandatory and cannot be bypassed