CTM04610 - Corporation Tax: trading losses - relief against total profits: restriction of relief for uncommercial trading - meaning of 바카라 사이트˜profit바카라 사이트™
CTA10/S44
In the context of CTA/S44 (see CTM04600) 바카라 사이트˜profit바카라 사이트™ means commercial profit. For CT purposes, 바카라 사이트˜profit바카라 사이트™ means 바카라 사이트˜income and chargeable gains바카라 사이트™, see CTM01110. But what S44 is concerned with is the commercial or accounting profit, disclosed by accounts which present a 바카라 사이트˜true and fair view바카라 사이트™. This normally means the GAAP profits after depreciation and so on, but not taking account of capital allowances or any other tax allowance.