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Corporation Tax Act 2010

Section 132: Consortium condition 1

495.This section allows claims involving companies owned by a consortium. It is based on section 402 of ICTA.

496.Subsection (2) allows group relief to go “upwards” from a company owned by a consortium to a member of the consortium.

497.Subsection (3) allows group relief to go “downwards” from a member of a consortium to a company owned by the consortium.

498.Subsections (4) and (5) deny relief if the consortium relationship depends on shares that are held by a share-dealing company as part of its circulating capital.

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