C2F1PART 5AGroup relief for carried-forward losses
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 3Claims for group relief for carried-forward losses
Claiming group relief for carried-forward losses
C1188CBClaims in relation to all the surrenderable amounts
1
This section applies in relation to the surrendering company's surrenderable amounts for the surrender period under Chapter 2.
2
If the requirements in subsection (3) are met, a company (“the claimant company”) may make a claim for group relief for carried-forward losses for an accounting period (“the claim period”) in relation to the surrenderable amounts.
3
The requirements are as follows—
Requirement 1 The surrendering company consents to the claim.
Requirement 2 There is a period (“the overlapping period”) that is common to the claim period and the surrender period.
Requirement 3 At a time during the overlapping period—
- a
the group condition is met (see section 188CE)
- b
consortium condition 1 is met (see section 188CF), or
- c
consortium condition 2 is met (see section 188CG).
- a
4
A claim under this section may relate to the whole of the surrenderable amounts or to part of them only.
5
This section is subject to section 188CD (claim not allowed by company with unused carried-forward losses of its own).
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