Part 14

Change in company ownership
CHAPTER 2C

Disallowance of group relief for carried-forward losses: general provision

Interpretation of Chapter
676CI
1
In this Chapter “
co-transferred company
” means any company which is related to the transferred company both immediately before and immediately after the change in ownership.
2
For the purposes of this Chapter any two companies (“T”) and (“C”) are “related” to one another at any time when—
a
the group condition is met in relation to T and C, or
b
any of consortium conditions 1 to 4 is met in relation to T and C,
(whether on the assumption that T is the claimant company and C is the surrendering company or vice versa).
3
In this Chapter—
- “consortium condition 1” is to be interpreted in accordance with section 188CF,
- “consortium condition 2” is to be interpreted in accordance with section 188CG,
- “consortium condition 3” is to be interpreted in accordance with section 188CH,
- “consortium condition 4” is to be interpreted in accordance with section 188CI,
- “the group condition” is to be interpreted in accordance with section 188CE.
Pt. 14 Ch. 2C 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. 77
Pt. 14 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 20
Pt. 14 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 18 (with ss. 15(1), 16(1), 17)