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Income and Corporation Taxes Act 1988, Section 403F is up to date with all changes known to be in force on or before 12 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Valid from 19/07/2006
(1)This section has effect for determining for the purposes of this Chapter the extent to which a loss or other amount is available for surrender by way of group relief by a non-resident company—
(a)which is resident in an EEA territory, or
(b)which is not so resident but which carries on a trade in an EEA territory through a permanent establishment,
in a case where a group claim may be made as a result of the condition in section 402(2A) being satisfied.
(2)A loss or other amount is not available for surrender by way of group relief by the non-resident company except in so far as, in relation to the EEA territory, the amount meets—
(a)the equivalence condition,
(b)the EEA tax loss condition,
(c)the qualifying loss condition, and
(d)the precedence condition.
(3)Part 1 of Schedule 18A determines, in the case of any amount and any EEA territory, the extent to which those conditions are met.
(4)In so far as a loss or other amount meets those conditions, Part 2 of Schedule 18A applies—
(a)for calculating the amount of the loss or other amount (if any) that is available for surrender by way of group relief, and
(b)otherwise for making provision in relation to the application of this Chapter to the non-resident company.
(5)This section is subject to section 403G (unallowable overseas losses of non-resident companies).]
Textual Amendments
F1S. 403F inserted (with effect in accordance with Sch. 1 para. 9 of the amending Act) by Finance Act 2006 (c. 25), Sch. 1 para. 4(1)
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