Section 419 The relevant accounting period, etc
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(1) In this Chapter, "the relevant accounting period" means-
(a) in a case within section 412(1), the accounting period current at the time in question, and
(b) in a case within section 412(2), the accounting period in relation to which the share in the consortium is to be determined.
What is the relevant accounting period for surrender of losses between qualifying group companies?
(1) Where a member company in a 75% group (section 412(1)) surrenders an unused trading loss to another group member, the relevant accounting period is the current accounting period at the time in question....
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(2) For the purposes of sections 413 to 418, a loan to a company shall be treated as a security whether or not it is a secured loan and, if it is a secured loan, regardless of the nature of the security.
