429 Claims and adjustments.

[CTA76 s125]

(1) A claim for group relief—

(a) need not be for the full amount available,

(b) shall require the consent of the surrendering company notified to the inspector in such form as the Revenue Commissioners may require, and

(c) shall be made within 2 years from the end of the surrendering company’s accounting period to which the claim relates.

(2) A claim for group relief by a company as a member of a consortium shall require the consent of each other member of the consortium, notified to the inspector in such form as the Revenue Commissioners may require, in addition to the consent of the surrendering company.

(3) Where the inspector ascertains that any group relief which has been given is or has become excessive, he or she may make an assessment to corporation tax under Case IV of Schedule D in the amount which in his or her opinion ought to be charged.

(4) Subsection (3) is without prejudice to the making of an assessment under ^[1]>section 919(5)(b)(iii)^<[1][1]>Chapter 5 of Part 41A^<[1] and to the making of all such other adjustments by means of discharge or repayment of tax or otherwise as may be required where a claimant company has obtained too much relief, or a surrendering company has foregone relief in respect of a corresponding amount.