Finance Act 2000 (c. 17)

SCHEDULES

SCHEDULE 20 U.K. Tax relief for expenditure on research and development

Part III U.K. Supplementary provisions

Restriction on consortium relief U.K.

22 U.K. Where—

(a) the company claims relief under paragraph 13 or 14 in respect of an accounting period, and

(b) at any time during that period the company is owned by a consortium at least one of the members of which is a company which is not a small or medium-sized enterprise,

no amount in respect of that period may be surrendered by the company, for the purposes of a claim to group relief under section 402(3) of the Taxes Act 1988 (group relief available where surrendering company owned by consortium), to any other company that is not a small or medium-sized enterprise.