"402(1) Subject to and in accordance with this Chapter…relief for trading losses and other amounts eligible for relief from corporation tax may…be surrendered by a company ('the surrendering company') and, on the making of a claim by another company ('the claimant company') may be allowed to the claimant company by way of a relief from corporation tax called 'group relief'.
403(7) Subject to the provisions of this Chapter…if in any accounting period the surrendering company has paid any amount by way of charges on income, so much of that amount as exceeds its profits of the period may be set off for the purposes of corporation tax against the total profits of the claimant company for its corresponding accounting period."
"(8) The surrendering company's profits of the period shall be determined for the purposes of subsection (7) above without regard to any deduction falling to be made in respect of losses or allowances of any other period, or to expenses of management deductible only by virtue of section 75(3)."
"…the amount to be included in respect of chargeable gains in a company's total profits for any accounting period shall be the total amount of chargeable gains accruing to the company in the accounting period after deducting -
(a) any allowable losses accruing to the company in the period and
(b) so far as they have not been allowed as a deduction from chargeable gains accruing in any previous accounting period, any allowable losses previously accruing to the company while it has been within the charge to corporation tax."