CTM80135 - Groups: group relief: Schedule A losses

ICTA88/S403 (1) and (3), ICTA88/S403ZD (3), ICTA88/S403ZE, ICTA88/S392A

Schedule A losses can be surrendered and claimed as group relief ( CTM81500).

The amount of Schedule A losses (PIM4230) that can be surrendered is the excess of losses in the accounting period over all the other profits of the accounting period ( CTM80142). It does not include:

• losses which are excluded from relief by ICTA88/S392A (5) because they are losses of a business not carried on with a view to gain (PIM4230), or
• losses brought forward from an earlier accounting period under ICTA88/S392A (2) (PIM4240).

For Schedule A expenses incurred before 1 April 1998 see CTM80136.