Available Losses definition
Available Losses means the aggregate of the amounts described in section 99 of Corporation Tax ▇▇▇ ▇▇▇▇ that in the relevant Accounting Period and Claim Period are eligible for surrender by Paragon Parent under the provisions of Part 5 of Corporation Tax ▇▇▇ ▇▇▇▇, to the extent that the Administrators are satisfied that such amounts are either: (a) not available to; or (b) not likely to be required by, Paragon Parent for its own account or to transfer to any Liquidating Subsidiary to offset or reduce the taxable income of Paragon Parent or such Liquidating Subsidiary.
Available Losses means the aggregate of any amounts which, in accordance with Chapter IV of Part X of the Income and Corporation Taxes Act 1988 (CHAPTER IV), are eligible for surrender by a member of the Company's Group under that Chapter IV, but shall not include any amount which is to be or has been surrendered by any member of the Company's Group to any other member of the Company's Group.
Available Losses means any current or historic tax losses which a Chargor is, under the tax law of its local jurisdiction, able to utilise to reduce or eliminate its own taxable profits and/or to surrender or transfer to another company;
Examples of Available Losses in a sentence
Notwithstanding the above, Paragon Parent shall not be required to surrender any Available Losses to the extent that such Available Losses are utilized by Paragon Parent, or any subsidiary undertaking thereof, in respect of the Claim Period and/or any Accounting Period ending on or prior to such Claim Period.
More Definitions of Available Losses
Available Losses means, in relation to an accounting period of a company, any amount available for surrender by way of Group Relief by that company.