Related Commentary  Related HMRC Manuals

42(1)  This section applies if–

(a)a company makes a claim under section 37 for relief in respect of a loss made in a ring fence trade,

(b)the claim is made by virtue of section 39 or 40, and

(c)a part of the loss that is eligible for relief under section 37 cannot be so relieved because there are not enough profits from which the loss may be deducted under that section.

42(2)  Relief for the part of the loss that cannot be relieved under section 37 (“the unrelieved loss”) is given to the company under this section.

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