Capital Allowances Act 2001 section 212F

When company is owned by consortium and consortium members

Section 212F defines when a company is considered to be owned by a consortium and who the consortium members are, for the purposes of the anti-avoidance rules on allowance buying.

• A company is consortium-owned if it is not already a qualifying 75% subsidiary of another company
• At least 75% of its ordinary share capital must be beneficially owned collectively by other companies
• Each of those other companies must own at least 5% of that ordinary share capital
• The companies that together hold this ownership stake are the members of the consortium