Corporation Tax Act 2010 section 99

Surrendering of losses and other amounts

Section 99 sets out which types of losses and other amounts a company may surrender to another group company as group relief, and the conditions and restrictions that apply to such surrenders.

• A company may surrender trading losses, capital allowance excesses, non-trading loan relationship deficits, qualifying charitable donations, qualifying grassroots sport expenditure, UK property business losses, management expenses, and non-trading losses on intangible fixed assets as group relief, provided they are eligible for corporation tax relief.
• Trading losses, capital allowance excesses, and non-trading loan relationship deficits may be surrendered even if the surrendering company has other profits against which those amounts could be set off; the remaining categories may only be surrendered to the extent they exceed the surrendering company's own total profits.
• Further restrictions apply depending on the surrendering company's residence status, certain expenses treated as incurred under specific provisions, and partnership losses arising from plant or machinery leasing businesses.
• The surrender is effected by the surrendering company consenting to one or more group relief claims made by the claimant company, and the losses or amounts eligible for surrender are referred to as the "surrenderable amounts" for the relevant "surrender period".