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Section 188DB Limitation on amount of relief applying to all claims under section 188CBF1C1

(1)

The amount of group relief for carried-forward losses to be given on a claim under section 188CB (“the current claim”) is limited to whichever is the lesser of—

(a)

the amount mentioned in subsection (2), and

(b)

the amount mentioned in subsection (3).

(2)

The amount referred to in subsection (1)(a) is the unused part of the surrenderable amounts (see section 188DC).

(3)

The amount referred to in subsection (1)(b) is the difference between—

(a)

the claimant company's relevant maximum for the overlapping period (see section 188DD), and

(b)

the amount of previously claimed group relief for carried-forward losses for the overlapping period (see section 188DE).

Annotations

Textual amendments

F1

Pt. 5A inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 23

Modifications

C1

Ss. 188DB-188DG applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 18(1)

Notes on Part 5A

Modifications

C1

Pt. 5A excluded (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), s. 1(5)(e) (with ss. 15(1), 16(1))