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HMRC internal manual

Capital Gains Manual

Groups to which loss set-off restrictions apply: connected groups

TCGA92/SCH7A/PARA9 (3) - (5)

If paragraph 9(2) has the result that there are two or more groups (`connected groups’) to which Schedule 7A applies, the extent of the loss restriction is given by the further rules in paragraph 9(3)-(5).

Note: Additional rules relating to loss buying were enacted in FA 2006. See CG47020+ for guidance on the rules which apply in priority to TCGA92/SCH7A for accounting periods ending on or after 5 December 2005.

FA11/S46 and FA11/SCH11 greatly simplified the rules in TCGA92/SCH7A for the deduction of losses on or after 19 July 2011. See CG47400+ for guidance on loss streaming from that date.