GLOSSARY

Consortium relief definition

What does Consortium relief mean?

Consortium relief is an extension of group relief that allows the surrender of losses between companies owned by a consortium and the members of that consortium. A company is owned by a consortium if it is not a 75% subsidiary of any other company and at least 75% of its ordinary share capital is beneficially owned by other companies, each of which beneficially owns at least 5% of its ordinary share capital. The shareholders which own at least 5% of the ordinary share capital are the members of the consortium. Certain limitations apply to the surrender and claiming of consortium relief.

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