(1)This section applies for the purposes of section 1104.
(2)The amount of a trading loss that is “unrelieved” is the amount of the loss reduced by—
(a)any relief that was or could have been obtained by the company making a claim under [F1section 37(3)(a) of CTA 2010 to deduct the loss from total] profits of the same accounting period,
(b)any other relief obtained by the company in respect of the loss, including relief under [F2section 37(3)(b) of that Act (losses deducted from total] profits of an earlier accounting period),
(c)any loss surrendered under [F3Part 5] of that Act (surrender of relief to group or consortium members), and
(d)the amount of any Chapter 2 surrenderable loss (as defined by section 1055) in respect of which an R&D tax credit is claimed under Chapter 2.
(3)No account is to be taken for this purpose of any losses—
(a)brought forward from an earlier accounting period under [F4section 45 of CTA 2010], or
(b)carried back from a later accounting period under [F5section 37(3)(b)] of that Act.
Textual Amendments
F1Words in s. 1105(2)(a) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 673(2)(a) (with Sch. 2)
F2Words in s. 1105(2)(b) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 673(2)(b) (with Sch. 2)
F3Words in s. 1105(2)(c) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 673(2)(c) (with Sch. 2)
F4Words in s. 1105(3)(a) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 673(3)(a) (with Sch. 2)
F5Words in s. 1105(3)(b) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 673(3)(b) (with Sch. 2)