PART X LOSS RELIEF AND GROUP RELIEF
C1CHAPTER IV GROUP RELIEF
412 Claims and adjustments.
1
M1A claim for group relief—
a
need not be for the full amount available,
b
shall require the consent of the surrendering company notified to the inspector in such form as the Board may require,
C2c
must be made within two years from the end of the surrendering company’s accounting period to which the claim relates.
C22
A consortium claim shall require the consent of each member of the consortium, notified to the inspector in such form as the Board may require, in addition to the consent of the surrendering company.
C33
If the inspector discovers that any group relief which has been given is or has become excessive he may make an assessment to corporation tax under Case VI of Schedule D in the amount which ought in his opinion to be charged.
4
Subsection (3) above is without prejudice to the making of an assessment under section 29(3)(c) of the Management Act and to the making of all such adjustments by way of discharge or repayment of tax or otherwise as may be required where a claimant company has obtained too much relief, or a surrendering company has forgone relief in respect of a corresponding amount.
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).