Part 13Additional relief for expenditure on research and development

Chapter 2Relief for SMEs: cost of R&D incurred by SME

Reliefs: further provision

1049Restriction on consortium relief

1

This section applies if—

a

a company claims relief under section 1044 or elects to obtain relief under section 1045 in respect of an accounting period,

b

at any time during the period the company is owned by a consortium, and

c

at least one of the members of the consortium is a large company.

2

The amount of the relief obtained in respect of the accounting period may not be surrendered by the company to another company, for the purposes of a consortium group relief claim, unless the other company is a small or medium-sized enterprise.

3

A “consortium group relief claim” means a claim to group relief F1based on consortium condition 1, 2 or 3 in sections 132 and 133 of CTA 2010 (group relief available between members of consortia).