Corporation Tax Act 2010

Surrenderable amounts under Chapter 3 U.K.

135 Group relief claims on amounts surrenderable under Chapter 3 U.K.

(1) This section applies in relation to the surrendering company's surrenderable amounts for the surrender period under Chapter 3.

(2) A company (“the claimant company”) may make a claim for group relief for an accounting period (“the claim period”) in relation to those amounts (in whole or in part) if the following requirements are met.

• Requirement 1

  The surrendering company consents to the claim.

• Requirement 2

  There is a period (“the overlapping period”) that is common to the claim period and the surrender period.

• Requirement 3

  The EEA group condition is met (see section 136) at a time during the overlapping period.

(3) More than one company may make a claim for group relief in relation to any surrenderable amounts (but the giving of group relief in relation to any claim is subject to the provisions of this Chapter).

136 The EEA group condition U.K.

(1) The EEA group condition is met if subsection (2) or (3) applies.

(2) This subsection applies if—

(a) the surrendering company is a 75% subsidiary of the claimant company, and

(b) the claimant company is UK resident.

(3) This subsection applies if—

(a) both the surrendering company and the claimant company are 75% subsidiaries of a third company, and

(b) the third company is UK resident.

(4) Chapter 5 explains how to determine if a company is a 75% subsidiary of another company.