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D2.230 Consortium relief for current year losses—basic calculation

Consortium relief is a form of group relief available to companies within a consortium, provided they meet the requirements to either be a consortium company or a member of the consortium (see D2.207A).

The same types of losses that can be surrendered on a group claim to group relief can also be surrendered on a consortium claim (see D2.215 for the types of eligible losses).

Also, the provisions relating to overlapping accounting periods applicable to group relief (see D2.216) also apply in a similar way to the calculation of consortium relief (see D2.231).

However, there is an additional restriction on the amount of trade losses that can be surrendered by a company owned by a consortium.

Trade losses can only be surrendered by a company owned by a consortium to the extent that they could not be claimed by that company under CTA 2010, s 37 against its own total profits for that period, regardless of whether such a set off is claimed or not.