Finance Act 2021

Transitional provision

22 (1) This paragraph applies where—

(a) section 269ZSA of CTA 2010 (inserted by paragraph 2 of this Schedule) applies in relation to a group (see section 269ZSA(1)),

(b) the group ceased to be a group for the purposes of Part 7ZA of CTA 2010 before the date on which this Act is passed, and

(c) one or more (but not all) of the companies that were, immediately before the group ceased to be a group for those purposes, members of the group and within the charge to corporation tax (the “former group companies”) no longer exist.

(2) If two or more of the former group companies still exist—

(a) section 269ZSA(2) of CTA 2010 has effect as if the reference to all the companies mentioned in that provision were to all the former group companies that still exist;

(b) section 269ZS(6) of CTA 2010, as it has effect by virtue of section 269ZSA(5)(b) of that Act, has effect as if the reference to each company mentioned in that provision were to each former group company that still exists.

(3) If only one of the former group companies still exists—

(a) section 269ZSA(2) of CTA 2010 has effect as if it enabled that company to nominate itself for the purposes of Part 7ZA of that Act;

(b) section 269ZS(6) of CTA 2010, as it has effect by virtue of section 269ZSA(5)(b) of that Act, has effect as if it provided that a group allowance nomination is of no effect unless it is signed by the appropriate person on behalf of that company.