http://www.legislation.gov.uk/id/ukpga/2006/25/schedule/1

SCHEDULES

SCHEDULE 1Group relief where surrendering company not resident in UK

Part 1Amendments of Chapter 4 of Part 10 of ICTA

Limits on group relief

2

1

Section 403A of ICTA (limits on group relief) is amended as follows.

2

In subsection (10) (qualifying conditions for the purposes of subsection (9)), for paragraph (a) (group claims) substitute—

a
if (or so far as) the claim is a group claim for the surrender of any loss or other amount other than a qualifying overseas loss, whenever the conditions in paragraphs (a) to (c) of section 402(2) are satisfied;
ab
if (or so far as) the claim is a group claim for the surrender of a qualifying overseas loss, whenever the condition specified in section 402(2A) is satisfied; and

3

After that subsection insert—

11
For the purposes of subsection (10) above a “qualifying overseas loss” means a loss or other amount that is available for surrender by way of group relief in accordance with sections 403F and 403G and Schedule 18A (relief in respect of overseas losses of non-resident companies).