Taxes Consolidation Act 1997 section 429

Claims and adjustments

Section 429 sets out the procedural rules for making group relief claims and the mechanism for recovering relief that has been granted in excess.

• A claim for group relief need not be for the full amount available and must be made within two years of the end of the surrendering company's relevant accounting period.
• Every claim requires the surrendering company's consent to be notified to the inspector in the form prescribed by Revenue.
• Where the claimant is a consortium member, the consent of every other consortium member must also be notified to the inspector.
• If group relief already given is found to be excessive, the inspector may raise a Case IV Schedule D corporation tax assessment, and may make all further adjustments necessary to recover the correct amount of tax.

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