PART 5A

Group relief for carried-forward losses
CHAPTER 3

Claims for group relief for carried-forward losses

Claiming group relief for carried-forward losses

Consortium condition 1
188CF
1
Consortium condition 1 is met if—
a
the claimant company is a trading company or a holding company,
b
the claimant company is owned by a consortium,
c
the surrendering company is a member of the consortium, and
d
both companies are
UK
related.
2
But consortium condition 1 is not met if a profit on a sale within subsection (3) by the surrendering company would be a trading receipt of the surrendering company.
3
A sale is within this subsection if it is a sale of—
a
the share capital the surrendering company owns in the claimant company, or
b
if the claimant company is owned by the consortium as a result of section 153(3) (consortiums involving holding companies), the share capital the surrendering company owns in the holding company in question.
Pt. 5A inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 23
Pt. 5A excluded (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), s. 1(5)(e) (with ss. 15(1), 16(1))