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Where the necessary conditions are met (D6.325—327), the successor company may claim to set off transferred losses as follows:

1. Ìý

   (a)ÌýÌýÌýÌý against the income of the trade to which it has succeeded, provided the losses¹:

2. 1. Ìý

      (1)ÌýÌýÌýÌý were pre 1 April 2017 trade losses (D1.1106) incurred in the predecessor's trade for which the predecessor has not claimed relief under CTA 2010, ss 37 (against total profits) or 45F (terminal loss relief) (see D1.1104, 1105, 1110), and

   2. Ìý

      (2)ÌýÌýÌýÌý they would have been relievable if the predecessor had continued to carry on the trade

3. Ìý

   (b)ÌýÌýÌýÌý against future total profits of the company, provided²:

4. 1. Ìý

      (1)ÌýÌýÌýÌý the losses were non-ring fence trade losses that arose on or after 1 April 2017 (D1.1106) and were incurred in the accounting period in which the predecessor ceased to carry on the trade or were carried forward to that period,

   2. Ìý

      (2)ÌýÌýÌýÌý relief has not been given for the losses by way of offset against current year