United Kingdom Corporation Tax Loss Relief - Footnotes

Footnotes

• 1 Except capital allowances cannot be used to increase a Case I loss for a life assurance business, other than a Case I loss carried forward. There are also other provisions that may restrict the utilisation of Case I losses of a life assurance company have been calculated.
• 2 Other than a dual-resident investing company or an open-ended investment company
• 3 Except for taxable profits arising in a ring-fenced oil or gas extraction trade, or against taxable profits of a life assurance business that are not taxed at shareholder rates.
• 4 Except that unutilised Case I losses arising in a life assurance business taxed on the I minus E basis before the accounting period that included 31 December 2002 could only be carried forward for limited purposes.