Finance Act 2021 (c. 26)

SCHEDULES

SCHEDULE 2 U.K. Temporary extension of periods to which trade losses may be carried back

PART 2 U.K. Corporation tax

Anti-avoidance U.K.

12 (1) A company may not make a 2020 claim if— U.K.

(a) at any time in the period beginning with 1 April 2020 and ending with 31 March 2021 the company is a member of a group,

(b) the company ceases to be a member of that group at any time in that period, and

(c) the main purpose, or one of the main purposes, of the company's ceasing to be a member of the group is to increase the total amount of relief given as a result of a 2020 claim.

(2) A company may not make a 2021 claim if—

(a) at any time in the period beginning with 1 April 2021 and ending with 31 March 2022 the company is a member of a group,

(b) the company ceases to be a member of that group at any time in that period, and

(c) the main purpose, or one of the main purposes, of the company's ceasing to be a member of the group is to increase the total amount of relief given as a result of a 2021 claim.

(3) In this paragraph “group” has the meaning given by section 269ZZB of CTA 2010 (meaning “group” in Part 7ZA of CTA 2010).