SCHEDULES
SCHEDULE 10Corporation tax relief for carried-forward losses
25Group relief for carried-forward losses
1
Section 188ED (claimant company’s relevant maximum for overlapping period in case of claim under section 188CC) is amended as follows.
2
In subsection (3)—
a
for “relevant” (in both places) substitute “qualifying”, and
b
for “section 269ZD(5)” (in both places) substitute “subsection (3A)”.
3
After subsection (3) insert—
3A
The claimant company’s “qualifying profits” for the claim period are—
a
the amount given by paragraph (1) of step 1 in section 269ZF(3) in determining the company’s qualifying trading profits and qualifying non-trading profits for the period, less
b
the amount given by paragraph (1) of step 2 in section 269ZF(3) in determining those profits for the period.