Corporation Tax Act 2010 section 269DB

Meaning of "non-banking group relief"

Section 269DB defines what counts as "non-banking group relief" for the purposes of calculating the surcharge on banking companies.

• Non-banking group relief is group relief surrendered by a company that is not a banking company during the relevant surrender period.
• This definition is used when calculating the surcharge profit of a banking company under section 269DA.
• The relief relates to losses or other amounts that the surrendering company has for the surrender period in question.
• Following amendments made by Finance Act 2022, the previous category of EEA banking company has been removed from the definition.