Double taxation relief: corporate members: Regulations: how relief is given
Relief against corporation tax for an accounting period for the pooled foreign tax forthat period is given by allowing it against corporation tax payable on profits arisingfrom underwriting business
- in that accounting period, or
- in one or more previous accounting periods, beginning not more than three years before that accounting period.
The corporate member has flexibility and can choose to split relief between thesealternatives, current accounting period and carry back, as it thinks appropriate.