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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 2 February 2006 - onwards
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421. Relation of group relief to other relief.

(1) In this section, "relief derived from a subsequent accounting period" means -

(a) relief under section 308(4) in respect of capital allowances to be made for an accounting period after the accounting period the profits of which are being computed,

(b) relief under section 396(2) in respect of a loss incurred in an accounting period after the accounting period the profits of which are being computed, and

(c) relief under section 397 in respect of a loss incurred in an accounting period after the end of the accounting period the profits of which are being computed.

(2) Group relief in accordance with section 420 for an accounting period shall be allowed as a deduction against the claimant company's total profits for the period before reduction by any relief derived from a subsequent accounting period, but as reduced by any other relief from tax (including relief in respect of charges on income under section 243(2)).

(3) That other relief shall be determined on the assumption that the

Comparing proposed amendment...