OT21050 | Corporation Tax Ring Fence: Losses and Group Relief: Loss Relief Restrictions

CTA10\S304(1)

The usual reliefs for trading losses are available to petroliferous companies but there are certain restrictions because of the ring fence. These restrictions ensure that non-ring fence losses are not allowed against ring fence profits.

Additionally, from 1 April 2017, the quantum of the relief for carried forward losses is restricted in some circumstances (CTM04800).