F1PART 5AGroup relief for carried-forward losses
CHAPTER 4Limitations on relief: claims under section 188CB
General limitation on amount of relief
188DEPreviously claimed group relief for carried-forward losses
(1)
To determine the amount of previously claimed group relief for carried-forward losses for the overlapping period—
(a)
identify any prior claims for the purposes of this section (see subsection (2)), and
(b)
take the steps set out in subsection (3) in relation to each such claim.
The amount of previously claimed group relief for carried-forward losses for the overlapping period is the total of the previously claimed amounts given at step 3 in subsection (3) for all the prior claims.
(2)
A claim is a prior claim for the purposes of this section if—
(a)
it is a claim under section 188CB or 188CC by the claimant company for group relief for carried-forward losses which would be given by way of a deduction from the company's total profits of the claim period,
(b)
it is made before the current claim, and
(c)
it has not been withdrawn.
(3)
These are the steps referred to in subsection (1)(b) to be taken in relation to each prior claim.
Step 1 Identify the overlapping period for the prior claim.
Step 2 Identify any period that is common to the overlapping period for the current claim and the overlapping period for the prior claim. If there is a common period, go to step 3. If there is no common period, there is no previously claimed amount in relation to the prior claim (and ignore step 3).
Step 3 Determine the previously claimed amount of group relief for carried forward losses in relation to the prior claim (see subsection (4)).
(4)
To determine the previously claimed amount of group relief for carried-forward losses in relation to a prior claim—
(a)
take the proportion of the overlapping period for the prior claim that is included in the common period identified at step 2 in relation to that claim, and
(b)
apply that proportion to the amount of group relief for carried-forward losses given on the prior claim.
The previously claimed amount of group relief for carried-forward losses in relation to the prior claim is the amount given as a result of paragraph (b).