Part 3 Group Relief for Carried-Forward Losses
Finance (No 2) Act 2017 (2017 c 32) | Legislation

Part 3 Group Relief for Carried-Forward Losses

23

After section 188 of CTA 2010 insert—

“Part 5A
Group Relief for Carried-Forward Losses

Chapter 1
Introduction

188AA Introduction to Part

(1)     This Part—

(a)     allows a company to surrender losses and other amounts that have been carried forward to an accounting period of the company (see Chapter 2), and

(b)     enables, in certain cases involving groups or consortiums of companies, other companies to claim corporation tax relief for the losses and other amounts that are surrendered (see Chapter 3).

(2)     Chapters 4 and 5 contain limitations on the amount of corporation tax relief which may be given on a claim under Chapter 3.

(3)     See Chapter 5 for definitions that apply for the purposes of this Part and miscellaneous provisions.

(4)     The corporation tax relief mentioned in this section is called “group relief for carried-forward losses.

Chapter 2
Surrender of Company's Carried-Forward Losses etc

188BA Overview of Chapter

(1)     This Chapter allows a company to surrender losses and other amounts that have been carried forward to an accounting period of the company.

(2)     Section 188BB sets out the basic provisions about the surrendering of losses and other amounts.

(3)

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