Part 5Group relief
Chapter 2Surrender of company's losses etc for an accounting period
Basic provisions about surrendering losses and other amounts
100Meaning of “trading loss”
(1)
In section 99(1)(a) “trading loss” means a loss made in a trade in the surrender period.
(2)
But it does not include—
(a)
a loss made in a trade carried on wholly outside the United Kingdom, or
(b)
a loss that is not eligible for relief under section 37 as a result of section 44 or 48.