11(1)Paragraph 10(2) is subject to the limitation in sections 138 to 142 of CTA 2010 (general limitation on amount of group relief to be given) as if those sections applied to levy group relief as they apply to group relief under Part 5 of that Act.
(2)For the purposes of sub-paragraph (1)—
(a)section 138 of CTA 2010 (limitation on amount of group relief applying to all claims) has effect as if in paragraph (b) for the words “total profits” there were substituted “qualifying levy profits”,
(b)section 140 of CTA 2010 (unrelieved part of claimant company’s available total profits) has effect as if—
(i)in subsections (1) to (4) (and in the heading), for the words “total profits” (in each place) there were substituted “qualifying levy profits”,
(ii)for subsection (7) there were substituted—
“(7)In this section references to the claimant company’s “available qualifying levy profits” are references to its qualifying levy profits (within the meaning of the Energy (Oil and Gas) Profits Levy Act 2022) after the deduction of any relief given under paragraph 1 of Schedule 1 to that Act.”, and
(iii)subsection (8) were omitted, and
(c)section 142 of CTA 2010 (meaning of the “overlapping period”) has effect as if—
(i)in subsection (1) for the words in parenthesis there were substituted “(see paragraph 9(2)(b) of Schedule 1 to the Energy (Oil and Gas) Profits Levy Act 2022)”, and
(ii)in subsection (3), for the words from “group relief condition is the” to the end there were substituted “requirement in paragraph 9(2)(c) of Schedule 1 to the Energy (Oil and Gas) Profits Levy Act 2022”.
Commencement Information
I1Sch. 1 para. 11 in force at Royal Assent