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(2) Where, for a specified accounting period, a company has an estimated non-relevant trading loss or an estimated relevant trading loss, as the case may be, the company may, subject to this section, make a claim (referred to in this section as an ‘interim claim’) for such relief as would be available to the company in respect of the preceding accounting period under section 396(2), 396A(3) or 396B, as the case may be, in respect of 50 per cent of the estimated non-relevant trading loss or 50 per cent of the estimated relevant trading loss, as the case may be, and an interim claim made under this subsection shall be treated—

(a) as if it were a claim under section 396(2), 396A(3) or 396B, as the case may be, and

and sections 396, 396A and 396B shall apply to an interim claim with any other necessary modifications to give effect to this subsection.

(ii) not later than the specified return date for the accounting period in which the estimated non-relevant trading loss or the estimated relevant trading loss, as the case may be, is incurred, make such amendment to the amount of relief claimed by the company as is necessary to ensure that the amount of the claim does not exceed the amount of the non-relevant trading loss or the relevant trading loss, as the case may be, incurred by the company in the specified accounting period which is, under section 396, 396A or 396B, as the case may be, available in respect of the preceding accounting period.

(b) The requirement in paragraph (a)(ii) to make an amendment shall apply notwithstanding section 396(9), 396A(5) or 396B(6), as the case may be, but shall not prevent a company from making a notice of amendment under section 959V.

(ba) the total amount of the relevant trading loss referred to in subsection (2) of section 396B for the chargeable period shall be treated for the purposes of that section as reduced by 50 per cent,

“relevant corporation tax”, in relation to an accounting period of a company, means the corporation tax which, apart from this section and sections 239, 241, 396B, 420B, 440 and 441, would be chargeable on the company for the accounting period;

(1) Where in any accounting period Subject to section 396C, where in any accounting period a company carrying on a trade incurs a loss in the trade, the company may make a claim requiring that the loss be set off for the purposes of corporation tax against any trading income from the trade in succeeding accounting periods, and (so long as the company continues to carry on the trade) its trading income from the trade in any succeeding accounting period shall then be treated as reduced by the amount of the loss, or by so much of that amount as cannot, on that claim or on a claim (if made) under subsection (2) or section 455(3) subsection (2) or section 396A(3), 396B(2) or 455(3) subsection (2), section 396A(3) or 396B(2), be relieved against income or profits of an earlier accounting period.

(2) Where, for a specified accounting period, a company has an estimated non-relevant trading loss or an estimated relevant trading loss, as the case may be, the company may, subject to this section, make a claim (referred to in this section as an ‘interim claim’) for such relief as would be available to the company in respect of the preceding accounting period under section 396(2), 396A(3) or 396B, as the case may be, in respect of 50 per cent of the estimated non-relevant trading loss or 50 per cent of the estimated relevant trading loss, as the case may be, and an interim claim made under this subsection shall be treated—

(a) as if it were a claim under section 396(2), 396A(3) or 396B, as the case may be, and

and sections 396, 396A and 396B shall apply to an interim claim with any other necessary modifications to give effect to this subsection.

(ii) not later than the specified return date for the accounting period in which the estimated non-relevant trading loss or the estimated relevant trading loss, as the case may be, is incurred, make such amendment to the amount of relief claimed by the company as is necessary to ensure that the amount of the claim does not exceed the amount of the non-relevant trading loss or the relevant trading loss, as the case may be, incurred by the company in the specified accounting period which is, under section 396, 396A or 396B, as the case may be, available in respect of the preceding accounting period.

(b) The requirement in paragraph (a)(ii) to make an amendment shall apply notwithstanding section 396(9), 396A(5) or 396B(6), as the case may be, but shall not prevent a company from making a notice of amendment under section 959V.

(ii) section 396B, except to the extent that the amount can be used to reduce the relevant corporation tax chargeable on the profits of the leasing business of the company,

(c) details of any claims of relevant losses made for set off in the period to which the return relates, under section 396(1), 396A or 396B, as the case may be, insofar as those losses pertain to relevant leasing losses;

(b) where the person is a company, under section 396 section 396, 396B or 399.

(3) The amount of any expenditure to be treated under subsection (2) as incurred at the time that a trade or profession has been set up and commenced shall not be so treated for the purposes of section 381, 396(2) or 420 396(2), 396A, 396B, 420, 420A or 420B.

(ii) the amount of the excess referred to in subsection (2) of section 396B, to the extent relief may be claimed under that subsection, but for this Part. but for this Part, and

(b) any relief for losses or excesses, as the case may be, carried back from a subsequent accounting period under section 396(2), 396A(3), 396B(3), 397(1) or 399(2), or