SCHEDULES

SCHEDULE 1Reliefs

PART 2Group relief for qualifying levy losses

I113Payments for relief

1

This paragraph applies if—

a

a surrendering company and a claimant company have an agreement between them in relation to qualifying levy losses of the surrendering company (“the agreed loss amounts”),

b

relief under this Part of this Schedule is given to the claimant company in relation to the agreed loss amounts, and

c

as a result of the agreement the claimant company makes a payment to the surrendering company that does not exceed the total amount of the agreed loss amounts.

2

The payment is not to be taken into account in calculating the qualifying levy profits or loss of either company under section 1.