Corporation Tax Losses - Next Steps

This module provides an overview of Corporation Tax losses.

At the end of this module the deleagte should be able to:

• determine when terminal loss relief can be used for both current year and brought forward losses.

• apply terminal loss relief where the last 12 months straddles two accounting periods.

• identify qualifying groups for group relief.

• allocate group relief in a tax efficient manner.

• define consortiums and calculate consortium relief.

• calculate the relevant maxima for the loss restriction and apply the restriction to streamed losses.

• explain how the allocation rules for the loss restriction apply to groups.

• recognise what constitutes a change in ownership and what anti-avoidance rules may be applicable to such changes.

• describe how the Targeted Anti-Avoidance Rule (TAAR) may apply to loss relief.