96 Withdrawal of group relief
Finance Act 2008 (2008 c 9) | Legislation

96  Withdrawal of group relief

(1)     Part 1 of Schedule 7 to FA 2003 (group relief) is amended as follows.

(2)     In paragraph 3(5), for “paragraph 4” substitute “paragraphs 4 and 4ZA”.

(3)     In paragraph 4 (cases in which group relief not withdrawn)—

(a)     omit sub-paragraphs (2) and (3), and

(b)     in sub-paragraph (5), for “sub-paragraphs (3) and (4)” substitute “sub- paragraph (4)”.

(4)     After that paragraph insert—

“Group relief not withdrawn where vendor leaves group

4ZA

(1)     Group relief is not withdrawn under paragraph 3 where the purchaser ceases to be a member of the same group as the vendor because the vendor leaves the group.

(2)     The vendor is regarded as leaving the group if the companies cease to be members of the same group by reason of a

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