Practical Law UK Glossary 5-107-6671 (Approx. 3 pages)
Glossary
Group relief
A company (the surrendering company) may surrender trading losses and other amounts eligible for relief from corporation tax to another company within its group (the claimant company) for the claimant company to set off against its own profits for corporation tax purposes. The companies are within the same group where one is the 75% subsidiary of the other or both are 75% subsidiaries of a third company and certain other conditions are met. The group relationship may be established by reference to non-UK resident companies.