Section 1049 — Corporation Tax Act 2009: Restriction on consortium relief

Restriction on consortium relief 1049 1 This section applies if—

a a company claims relief under section 1044 or elects to obtain relief under section 1045 in respect of an accounting period, b at any time during the period the company is owned by a consortium, and c at least one of the members of the consortium is a large company.

2 The amount of the relief obtained in respect of the accounting period may not be surrendered by the company to another company, for the purposes of a consortium group relief claim, unless the other company is a small or medium-sized enterprise.

3 A “ consortium group relief claim ” means a claim to group relief based on consortium condition 1, 2 or 3 in sections 132 and 133 of CTA 2010 (group relief available between members of consortia).