Group relief: Difference between revisions
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''UK Corporation tax.'' | ''UK Corporation tax.'' | ||
A system of UK tax whereby a member of a group of companies may, in defined circumstances, pass a trading loss to another group company, enabling it to set the loss against its own trading profit, thereby reducing the amount of corporation tax payable by the group as a whole. | A system of UK tax whereby a member of a group of companies may, in defined circumstances, pass a trading loss to another group company, enabling it to set the loss against its own trading profit, thereby reducing the amount of corporation tax payable by the group as a whole. | ||
== See also == | == See also == | ||
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* [[Surrendering company]] | * [[Surrendering company]] | ||
* [[Tax relief]] | * [[Tax relief]] | ||
Revision as of 11:29, 27 August 2013
UK Corporation tax.
A system of UK tax whereby a member of a group of companies may, in defined circumstances, pass a trading loss to another group company, enabling it to set the loss against its own trading profit, thereby reducing the amount of corporation tax payable by the group as a whole.
