Part 5Group relief
Chapter 4Claims for group relief
Limitations on group relief if claim based on consortium condition 1, 2 or 3
149Conditions 1 and 3: claimant company in group of companies
1
This section applies if—
a
the claimant company makes a claim for group relief based on consortium condition 1,
b
it is the claimant company that is owned by the consortium, and
c
the claimant company is also a member of a group of companies.
2
This section also applies if—
a
the claimant company makes a claim for group relief based on consortium condition 3, and
b
the claimant company is a member of a group of companies.
3
No group relief is to be given on the claim (“the current claim”) unless the claimant company's total profits of the claim period exceed the group's potential relief.
4
If those total profits exceed the group's potential relief, the group relief to be given on the current claim is limited to the amount of the excess.
5
The group's potential relief is the maximum amount of group relief that could be claimed by the claimant company for the claim period on claims based on the group condition.
6
Before determining the maximum amount of potential group relief under subsection (5), take account of any claim made before the current claim that—
a
is a claim for group relief based on the group condition made by another member of the same group of companies as the claimant company, and
b
is in relation to losses or other amounts surrendered by a company that is also a member of that group.