Part 4Loss relief
Chapter 7Write-off of government investment
93Groups of companies
1
This section applies if—
a
at the end of an accounting period a company in which an amount of government investment is written off is in a group of companies, and
b
under section 92(2) or (3) an amount could be set off against the company’s carry-forward losses as at the end of that period (or could be so set off if there were enough of those losses).
2
The amount may be set off (wholly or partly) against the carry-forward losses of one or more companies within subsection (3), as may be just and reasonable.
3
A company (other than the company referred to in subsection (1)(a)) is within this subsection if at the end of the accounting period it is in the group of companies.
4
A “group of companies” consists of a company that has one or more 51% subsidiaries, together with that or those subsidiaries.