Section 1049 Restriction on consortium relief
United Kingdom
This section applies if—
a company claims relief under section 1044 or elects to obtain relief under section 1045 in respect of an accounting period,
at any time during the period the company is owned by a consortium, and
at least one of the members of the consortium is a large company.
The amount of the relief obtained in respect of the accounting period may not be surrendered by the company to another company, for the purposes of a consortium group relief claim, unless the other company is a small or medium-sized enterprise.
A “consortium group relief claim” means a claim to group relief F1based on consortium condition 1, 2 or 3 in sections 132 and 133 of CTA 2010 (group relief available between members of consortia).
Annotations
Textual amendments
- F1
Words in s. 1049(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 668 (with Sch. 2)
Notes on Part 13
Textual amendments
- F1
Words in Pt. 13 heading omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 3, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Notes on Chapter 2
Textual amendments
- F1
Pt. 13 Ch. 2 heading substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 6(2), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2