Paragraph 5
United Kingdom
The company shall be assumed to be neither a member of a group of companies nor a member of a consortium for the purposes of any provision of the Tax Acts.
Where, under F3Part 5 of CTA 2010, any relief is in fact surrendered by the company and allowed to another company by way of group relief, it shall be assumed that the chargeable profits of the company, apart from this paragraph, are to be increased by an amount of additional profits equal to the amount of the relief so surrendered and allowed.
Annotations
Textual amendments
- F1
Sch. 24 para. 5 renumbered as para. 5(1) (with effect in accordance with Sch. 27 para. 12(1) of the amending Act) by virtue of Finance Act 2000 (c. 17), Sch. 27 para. 10
- F2
Sch. 24 para. 5(2) inserted (with effect in accordance with Sch. 27 para. 12(1) of the amending Act) by Finance Act 2000 (c. 17), Sch. 27 para. 10
- F3
Words in Sch. 24 para. 5(2) substituted (1.4.2010 with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 146(2) (with Sch. 2)
Modifications
- C1
Sch. 24 para. 5(1) excluded by Corporation Tax Act 2010 (c. 4), s. 938M(1) (as inserted (19.7.2011) by Finance Act 2011 (c. 11), Sch. 5 para. 2)
Notes on Schedule 24
Marginal citations
- M1
Source-1984 Sch. 16, 1985 Sch. 14 16
Modifications
- C1
Sch. 24 modified (28.7.2000) by Finance Act 2000 (c. 17), Sch. 22 para. 54(2)-(5)