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CTA10/S139

• S139(1) defines the 鈥渦nused part of the surrenderable amounts鈥� as being equal to:
• the surrenderable amount for the overlapping period (CTM80230), less,
• the amount of prior surrenders for the overlapping period.

The meaning of 鈥渙verlapping period鈥� is given by CTA10/S142 (CTM80225).

To calculate 鈥榯he amount of prior surrenders for the overlapping period鈥� for any claim (the 鈥榗urrent claim鈥�), follow the three steps outlined at CTA10/S139(3)-(6).

Step 1

• Identify each prior claim (CTM80220)
• that involves any part of the surrenderable amounts for the accounting period of the surrendering company for the current claim and
• that has not been withdrawn.

Step 2

For each such prior claim, determine the previously used amount of group relief in relation to the prior claim:

• identify the amount of group relief given for the prior claim and the overlapping period (CTM80225) for that claim,
• determine the common period, if any, shared by the overlapping period for the prior claim and the overlapping period in the current claim,
• if there is no common period, there is no previously used amount in relation to the prior claim;
• if there is a common period, time-apportion (CTM80265) the amount of group relief given on the prior claim, by reference to the proportion of the overlapping period for the prior claim that is included in the common period. If time-apportionment gives an unjust or unreasonable result, some other basis may be used (CTM80260).

Step 3

• Add up all the apportioned amounts from Step 2. The result is 鈥榯he amount of prior surrenders for the overlapping period鈥� for the current claim.

There is an example at CTM80255.