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Corporation Tax Act 2010
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Changes over time for: Section 133
Alternative versions:
- 01/04/2010- Amendment
- 16/12/2010- Amendment
- 18/11/2015- Amendment
- 28/02/2018
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Point in time view as at 28/02/2018.
Changes to legislation:
Corporation Tax Act 2010, Section 133 is up to date with all changes known to be in force on or before 08 January 2025. 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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133Consortium conditions 2 and 3U.K.
This section has no associated Explanatory Notes
(1)Consortium condition 2 is met if—
(a)the surrendering company is a trading company or a holding company,
(b)the surrendering company is owned by a consortium,
(c)the claimant company is not a member of the consortium,
(d)the claimant company is a member of the same group of companies as a third company (“the link company”),
(e)the link company is a member of the consortium, F1... [F2and]
[F3(f) the surrendering company and the claimant company are both UK related, F4...
F4(g). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
(2)Consortium condition 3 is met if—
(a)the claimant company is a trading company or a holding company,
(b)the claimant company is owned by a consortium,
(c)the surrendering company is not a member of the consortium,
(d)the surrendering company is a member of the same group of companies as a third company (“the link company”),
(e)the link company is a member of the consortium, F5... [F6and]
[F7(f) the surrendering company and the claimant company are both UK related, F8...
F8(g). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
(3)But neither consortium condition 2 nor consortium condition 3 is met if a profit on a sale within subsection (4) by the link company would be a trading receipt of that company.
(4)A sale is within this subsection if it is a sale of—
(a)the share capital the link company owns in the company (“the consortium company”) owned by the consortium as mentioned in subsection (1)(b) or (2)(b), or
(b)if the consortium company is owned by the consortium as a result of section 153(3) (consortiums involving holding companies), the share capital the link company owns in the holding company in question.
F9(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F9(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F9(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F9(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Word in s. 133(1)(e) omitted (with effect in accordance with Sch. 6 para. 10 of the amending Act) by virtue of Finance (No. 3) Act 2010 (c. 33), Sch. 6 para. 4(2)(a)
F2Word in s. 133(1)(e) inserted (18.11.2015) (with effect in accordance with s. 35(3) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 35(1)(a)(i)
F3S. 133(1)(f)(g) substituted for s. 133(1)(f) (with effect in accordance with Sch. 6 para. 10 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 6 para. 4(2)(b)
F4S. 133(1)(g) and preceding word omitted (18.11.2015) (with effect in accordance with s. 35(3) of the amending Act) by virtue of Finance (No. 2) Act 2015 (c. 33), s. 35(1)(a)(ii)
F5Word in s. 133(2)(e) omitted (with effect in accordance with Sch. 6 para. 10 of the amending Act) by virtue of Finance (No. 3) Act 2010 (c. 33), Sch. 6 para. 4(3)(a)
F6Word in s. 133(2)(e) inserted (18.11.2015) (with effect in accordance with s. 35(3) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 35(1)(b)(i)
F7S. 133(2)(f)(g) substituted for s. 133(2)(f) (with effect in accordance with Sch. 6 para. 10 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 6 para. 4(3)(b)
F8S. 133(2)(g) and preceding word omitted (18.11.2015) (with effect in accordance with s. 35(3) of the amending Act) by virtue of Finance (No. 2) Act 2015 (c. 33), s. 35(1)(b)(ii)
F9S. 133(5)-(8) omitted (18.11.2015) (with effect in accordance with s. 35(3) of the amending Act) by virtue of Finance (No. 2) Act 2015 (c. 33), s. 35(1)(c)
Modifications etc. (not altering text)
C1Pt. 5 modified by 2009 c. 4, s. 1218ZDB(2) (as inserted (for specified purposes and with effect in accordance with Sch. 6 paras. 20, 21(1)(a) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 1 (with Sch. 6 para. 21(3)))
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