PART 5A

Group relief for carried-forward losses
CHAPTER 5

Limitations on relief: claims under section 188CC

General limitation on amount of relief

Sections 188EC to 188EE: supplementary
188EG
1
If two or more claims for group relief for carried-forward losses are made at the same time, for the purpose of section 188EC and 188EE treat the claims as made—
a
in such order as the company making them may elect or the companies making them may jointly elect, or
b
if no such election is made, in such order as an officer of Revenue and Customs may direct.
2
For the purpose of step 3 in each of sections 188EC(5) and 188EE(3) the amount of group relief for carried-forward losses given on a prior claim is determined on the basis that relief is given on the claim before it is given on any later claim.
3
If the use of any proportion mentioned in subsection (4), would, in the circumstances of a particular case, produce a result that is unjust or unreasonable, the proportion is to be modified so far as necessary to produce a result that is just and reasonable.
4
The proportions are those found in—
a
section 188EC(2)(a),
b
step 1 in section 188EC(6),
c
section 188EC(8)(a),
d
step 3 in section 188ED(1), and
e
section 188EE(4)(a).
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
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))