OT26125 - Capital allowances: ring fence expenditure supplement: unrelieved group ring fence profits
CTA2010\S313
»Ê¹ÚÌåÓýapp amount on which RFES (pre- and post-commencement) can be claimed for an accounting period is reduced if there are taxable ring fence profits arising in a company within the same group for a corresponding accounting period. ‘Groupâ€� has the same meaning as given by CTA2010\S152.
Taxable ring fence profits are defined in CTA2010\S314. »Ê¹ÚÌåÓýappy are an amount of ring fence profits chargeable to corporation tax in an accounting period, net of any group relief claimed under the group relief rules.
»Ê¹ÚÌåÓýapp group company’s accounting period is a corresponding accounting period if it coincides with, overlaps or falls wholly within the qualifying company’s accounting period. If it overlaps, the profits are apportioned in accordance with CTA2010\S1172.