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I just want to clarify that a company has to make an ‘all or nothing’ claim for the current period if it chooses.
But if it wants to surrender some losses to its 75% group, can it surrender some and keep the rest of the losses?
So the claim (by the claimant with consent) to surrender has to be made first, then the losses that is kept by the surrendering company has to be all or nothing, correct?
I think I have the same question, in the notes page 169, the last paragraph in 2.1 “Definition of a 75% group” it says:
“Any unused trading losses of property business losses brought forward by a company may now also be surrendered as group relief, BUT only to the extent that the loss making company is unable to set off the loss against its own profits”
but on page 171, the first line in section 2.4 “The surrendering company” it says:
“The surrendering company may surrender as much of its trading loss as it wants to and it is not necessary to relieve a trading loss against its own income and gains first.”
These seem to contradict and I’m not sure I understand.
Thank you in advance!
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