CTM80125 - Groups: group relief: non-trading loan relationships deficits
ICTA88/S403 (1) and (2), ICTA88/S403ZC
Deficits on non-trading loan relationships can be surrendered and claimed as group relief (CTM81500).
The surrendering company does not have to use the deficit against its other income in priority to surrendering some or all of it as group relief to a fellow group member. Nor is the amount that can be surrendered restricted to the excess over other profits for the accounting period of surrender.
Accounting periods ending before 1 October 2002
For accounting periods ending before 1 October 2002 a deficit eligible for surrender as group relief must be claimed under FA96/S83 (2)(b) by the surrendering company. This is in addition to consent to surrender as group relief..
Accounting periods ending on or after 1 October 2002
For accounting periods ending on or after 1 October 2002 no FA96/S83 (2)(b) claim is required.
