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HMRC internal manual

COTAX Manual

CT Pay and File: claims / reliefs: ACT: legislation: surrender surplus ACT caused by loss carry-back

The table below gives a brief explanation of what the legislation relevant to this subject contains.

Section Explanation
87A(6) TMA 1970 Rules for determining the amount of late payment interest payable when a trade loss is carried back to an AP not falling wholly within the previous 12 months.
240 ICTA 1988 Set-off a company’s surplus ACT against the liability of a subsidiary.