Corporation Tax Act 2010 (c. 4)

[F1 PART 5A U.K. Group relief for carried-forward losses

Textual Amendments

F1 Pt. 5A inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 23

Modifications etc. (not altering text)

C1 Pt. 5A excluded (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), s. 1(5)(e) (with ss. 15(1), 16(1))

CHAPTER 6 U.K. Miscellaneous provisions and interpretation of Part

Interpretation U.K.

188FB Subsidiaries, groups and consortiums U.K.

Chapter 5 of Part 5 (which explains certain key concepts for the purposes of Part 5, including (in particular) how to determine if a company is a member of a group of companies or is a member of, or is owned by a consortium) applies for the purposes of this Part as it applies for the purposes of Part 5.

188FC “Trading company” and “holding company” U.K.

(1) In this Part “trading company” means a company the business of which consists wholly or mainly in the carrying on of a trade.

(2) In this Part “holding company” means a company the business of which consists wholly or mainly in the holding of shares or securities that—

(a) are its 90% subsidiaries, and

(b) are trading companies.

188FD Other definitions U.K.

(1) In this Part—

• “the claimant company” has the meaning given by section 188CB(2) or 188CC(2),

• “the claim period” has the meaning given by section 188CB(2) or 188CC(2),

• “company” means any body corporate,

• “group relief for carried-forward losses” has the meaning given by section 188AA(4),

• “profits” means income and chargeable gains, except in so far as the context otherwise requires,

• “shock loss” has the meaning given by section 269ZK,

• “Solvency 2 insurance company” means an insurance company as defined in section 269ZP(2),

• “the specified loss-making period”, in relation to a claim for group relief for carried forward losses made under section 188CC, has the meaning given by subsection (2) of that section,

• “the surrenderable amounts” has the meaning given by section 188BB(7),

• “surrendering company” has the meaning given by 188BB(7), and

• “the surrender period” has the meaning given by section 188BB(7).

(2) In this Part, except in so far as the context otherwise requires—

(a) references to a trade include an office, and

(b) reference to carrying on a trade include holding an office.]