Section GB 38 — Income Tax Act 2007: When sections GB 35 to GB 37 apply to consolidated groups

GB 38 When sections GB 35 to GB 37 apply to consolidated groups Tax advantage arrangements (1) Sections GB 35 and GB 36 apply, with the necessary modifications, in a case that involves accounts of a consolidated group as if— (a) the consolidated group were a single company; and (b) references to provisions of this Act were references to the equivalent provisions applicable to the equivalent accounts. Arrangement for dividend from another company (2) If a company is treated by section GB 37(3) as having paid a dividend, and is at the time of payment a member of a consolidated group, section GB 37 applies as if the reference to section OB 30 (ICA payment of dividend) were a reference to section OP 28 (Consolidated ICA payment of dividend). Defined in this Act: company , consolidated group , dividend , Compare: 2004 No 35 s GC 24