Corporation Tax Act 2010 section 100

Meaning of "trading loss"

Section 100 defines what counts as a "trading loss" for the purposes of group relief surrenders under section 99.

• A trading loss is a loss made in a trade during the surrender period
• Losses from trades carried on wholly outside the United Kingdom are excluded
• Non-commercial trading losses that would not qualify for sideways relief under the company's own loss relief rules are excluded
• The calculation of the trading loss follows the standard rules for computing trade losses for corporation tax purposes