Income and Corporation Taxes Act 1988 (c. 1)

PART X U.K. LOSS RELIEF AND GROUP RELIEF

CHAPTER IV U.K. GROUP RELIEF

Modifications etc. (not altering text)

C1 See—1988 s.434A—limitations on group relief for life assurance company.1989 s.102—surrender of company tax refund etc. within group (from a day to be appointed not earlier than 31March 1992).

C2 Pt. 10 Ch. 4 modified (27.7.1999) by Commonwealth Development Corporation Act 1999 (c. 20), Sch. 3 paras. 1, 5(1)

C3 Pt. 10 Ch. 4: The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), reg. 35 to be construed as one with this Chapter (6.4.2006) by virtue of regs. 1, 35(2) of that affecting S.I.

C4 Pt. 10 Ch. 4 modified (19.7.2006) by Finance Act 2006 (c. 25), s. 136(1)(2)(c)

C5 Pt. 10 Ch. 4 modified (12.12.2006 with effect in accordance with reg. 1(2) of the modifying S.I.) by The Taxation of Securitisation Companies Regulations 2006 (S.I. 2006/3296), regs. 1(1), 17

C6 Pt. 10 Ch. 4 modified (1.4.2009 with effect in accordance with s. 1329(1) of the modifying Act) by Corporation Tax Act 2009 (c. 4), s. 39(3) (with Sch. 2 Pts. 1, 2)

411 Exclusion of double allowances. U.K.

(1) M1 Relief shall not be given more than once in respect of the same amount, whether by giving group relief and by giving some other relief (in any accounting period) to the surrendering company, or by giving group relief more than once.

(2) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(9) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(10) F2 . . . Any reference in [F3 the Capital Allowances Act, except Parts 6 and 10], to an allowance made includes a reference to an allowance which would be made but for the granting of group relief, or but for that and but for an insufficiency of profits or other income against which to make it.

Textual Amendments

F1 S. 411(2)-(9) repealed (with effect in accordance with Sch. 7 para. 6, Sch. 8 Pt. 2(14) Note of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 7 para. 6, Sch. 8 Pt. 2(14)

F2 Words in s. 411(10) repealed (with effect in accordance with s. 579(1) of the repealing Act) by Capital Allowances Act 2001 (c. 2), Sch. 2 para. 38(a), Sch. 4 (with Sch. 3)

F3 Words in s. 411(10) substituted (with effect in accordance with s. 579(1) of the amending Act) by Capital Allowances Act 2001 (c. 2), Sch. 2 para. 38(b) (with Sch. 3)

Modifications etc. (not altering text)

C7 S. 411(1) applied (with modifications) (31.3.2001 with effect in accordance with reg. 1(2) of the affecting S.I.) by The Double Taxation Relief (Surrender of Relievable Tax Within a Group) Regulations 2001 (S.I. 2001/1163), reg. 10

Marginal Citations

M1 Source—1970 s.263(1),(2)