64(1)Schedule 8 to the Finance Act 1996 (loan relationships: claims relating to deficits) is amended as follows.
(2)In paragraph 1 (claim to set off deficit against other profits for the same period), in sub-paragraph (3)(b) for paragraph (i) substitute—
“(i)under section 392A(1) or 393A(1) of the Taxes Act 1988 (losses set against profits for the same or preceding accounting periods); or”.
(3)In paragraph 2 (claim to treat deficit as eligible for group relief) for sub-paragraph (2) substitute—
“(2)Section 403 of the Taxes Act 1988 (amounts which may be surrendered by way of group relief) applies in accordance with section 403ZC(2) of that Act.”.