Taxes Consolidation Act, 1997
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Relation of group relief to other relief. [CTA76 s117(1), (2), (3)(a), (b) and (d) and (4)] |
421.—(1) In this section, “relief derived from a subsequent accounting period” means— | |
(a) relief under section 308 (4) in respect of capital allowances to be made for an accounting period after the accounting period the profits of which are being computed, | ||
(b) relief under section 396 (2) in respect of a loss incurred in an accounting period after the accounting period the profits of which are being computed, and | ||
(c) relief under section 397 in respect of a loss incurred in an accounting period after the end of the accounting period the profits of which are being computed. | ||
(2) Group relief for an accounting period shall be allowed as a deduction against the claimant company's total profits for the period before reduction by any relief derived from a subsequent accounting period, but as reduced by any other relief from tax (including relief in respect of charges on income under section 243 (2)). | ||
(3) That other relief shall be determined on the assumption that the company makes all relevant claims under section 308 (4) or 396 (2). | ||
(4) The reductions to be made in total profits of an accounting period against which any relief derived from a subsequent accounting period is to be set off shall include any group relief for the first-mentioned accounting period. |