[225A Effect of notice: surrender of losses ineffective, etc]
Finance Act 2014 (2014 c 26) | Legislation

[Prevention of surrender of losses]

[225A  Effect of notice: surrender of losses ineffective, etc]

[(1)     This section applies where—

(a)     an accelerated payment notice is given (and not withdrawn), and

(b)     an amount is specified in the notice in accordance with section 220(2)(d) or 221(2)(d).

(2)     P may not consent to any claim for group relief in respect of the amount so specified.

(3)     Subject to subsection (2), paragraph 75 (other than sub-paragraphs (7) and (8)) of Schedule 18 to FA 1998 (reduction in amount available for surrender) has effect as if the amount so specified ceased to be an amount available for surrender at the time the notice was given to P.

(4)     For the purposes of subsection (3),

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