Taxes Consolidation Act 1997 section 111Y

Qualifying loss election

Section 111Y sets out the rules for making a qualifying loss election, which allows a filing constituent entity to use net qualifying losses in a jurisdiction to create a deferred tax asset based on the minimum tax rate, instead of applying the standard deferred tax adjustment rules.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.