Corporation Tax Act 2009 Explanatory Notes

Section 368: Reduction of claims where there are earlier net consortium debits

1163.This section provides that claims for group relief surrendered by the consortium company to a consortium member (or group company) are reduced by the excess of debits over credits on loans to the consortium company in preceding years. It is based on paragraph 5A(11) to (13) of Schedule 9 to FA 1996.

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