group relief
Under the Income and Corporation Taxes 1988 tax losses of one company in a group can be transferred to other companies in the group to be set against taxable profits in the recipient. Group relief is not available for losses incurred by a company before it becomes a member of the group.

Easyform Glossary of Law Terms. — UK law terms.


group relief
the set of rules permitting companies within the same group certain flexibility that would not be allowed if the group relationship did not exist. Thus, for example, a trading loss incurred by one group member may be set against profits of another member of the same group.

Collins dictionary of law. . 2001.


group relief
Trading losses or other amounts eligible for relief from corporation tax incurred by a company (the surrendering company) may be surrendered 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.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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