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Section 188DG Sections 188DC and 188DE: meaning of “the overlapping period”F1C1C2

(1)

In sections 188DC and 188DE “the overlapping period”, in relation to a claim for group relief for carried-forward losses, means the period that is common to the claim period and the surrender period (see Requirement 2 in section 188CB(3) and Requirement 2 in section 188CC(3)).

(2)

But if during any part of the overlapping period the relief condition is not met, that part is treated as not forming part of the overlapping period but instead as forming—

(a)

a part of the surrender period that is not included in the overlapping period, and

(b)

a part of the claim period that is not included in the overlapping period.

(3)

The relief condition is the condition on which the claim for group relief for carried forward losses is based, that is—

  • the group condition,

  • consortium condition 1,

  • consortium condition 2,

  • consortium condition 3, or

  • consortium condition 4.

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)

C2

S. 188DG modified (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(2)(d)

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))