Related Commentary  Related HMRC Manuals

101(1)  Two or more companies which are not charities form a “company unit” for a tax year (and are the “members” of that unit) if–

(a)they are connected with one another at the beginning of the tax year, and

(b)each of them is entitled to a levy allowance for the tax year.

101(2)  The members of a company unit must determine what amount of levy allowance each of them is to be entitled to for the tax year (and the determination must comply with subsections (3) and (4)).

But see subsections (6) and (11).

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