C2F1PART 5AGroup relief for carried-forward losses

Annotations:
Amendments (Textual)
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)

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—

    1. a

      the group condition is met (see section 188CE)

    2. b

      consortium condition 1 is met (see section 188CF), or

    3. c

      consortium condition 2 is met (see section 188CG).

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).