Valid from 19/07/2006
1U.K.This Schedule sets out the modifications of Part 4 in its application to groups.
2In this Schedule, in relation to a group—
(a)“G (pre-entry)” means the group before Part 4 begins to apply to it,
(b)“G (property rental business)” means the group in so far as it carries on property rental business which satisfies Conditions 1 to 3 of section 107 (as modified by paragraph 6 below) while Part 4 applies to it,
(c)“G (residual)” means the group in so far as it carries on other business while Part 4 applies to it, and
(d)“G (post-cessation)” means the group after Part 4 has ceased to apply to it.
3(1)A reference in this Schedule to a UK resident company is a reference to a company which—U.K.
(a)is resident in the United Kingdom, and
(b)is not resident in another place in accordance with the law of that place relating to taxation.
(2)A reference in this Schedule to UK profits of a group is a reference to—
(a)amounts shown in the financial statements of G (property rental business) as profits of UK resident members of the group, and
(b)amounts shown in the financial statements of G (property rental business) as profits of business in the United Kingdom of other members.
(3)A reference to UK business of a group is a reference to—
(a)the business of UK resident members of the group, and
(b)business in the United Kingdom of other members.