Corporation Tax Act 2010 section 188AA

Introduction to Part

Section 188AA introduces Part 5A of CTA 2010, which establishes a relief called "group relief for carried-forward losses", allowing companies within groups or consortiums to share the benefit of carried-forward losses.

• A company may surrender losses and other amounts that have been carried forward to one of its accounting periods, following the rules in Chapter 2.
• Where companies are part of a group or consortium, other companies in that group or consortium may claim corporation tax relief for the surrendered losses and amounts, under the provisions of Chapter 3.
• Chapters 4 and 5 impose limitations on the amount of corporation tax relief that can be claimed under Chapter 3.
• Chapter 5 also provides definitions and miscellaneous provisions that apply throughout this Part.