{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-188BG",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-188BG.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/188BG",
  "kind": "section",
  "number": "188BG",
  "heading": "Restrictions for certain insurance companies",
  "text": "(1) If the surrendering company is a general insurance company and the surrender period is an excluded accounting period, the company may not surrender under this Chapter—\n(a) a loss carried forward to the surrender period under section 753(3) of CTA 2009;\n(b) expenses carried forward to the surrender period under section 1223 of CTA 2009;\n(c) a loss carried forward to the surrender period under section 62(5)(a) or 63(3)(a).\n(2) In subsection (1) “excluded accounting period” and “general insurance company” are to be interpreted in accordance with section 269ZG.\n(3) If the surrendering company is a Solvency 2 insurance company it may not surrender under this Chapter—\n(a) a loss carried forward to the surrender period under section 753(3) of CTA 2009,\n(b) expenses carried forward to the surrender period under section 1223 of CTA 2009, ...\n(c) a loss carried forward to the surrender period under section 62(5)(a) or 63(3)(a), or\n(d) a BLAGAB trade loss carried forward to the surrender period under section 124A(2) or 124C(3) of FA 2012,\nso far as the loss is, or (as the case may be) the expenses are, a shock loss.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 188B(3)(b) omitted (with effect in accordance with Sch. 10 para. 32 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 10 para. 23(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 188B(3)(d) and word inserted (with effect in accordance with Sch. 10 para. 32 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 10 para. 23(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/188BG",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}