SCHEDULE 11Reconstruction relief and acquisition relief
PART 4Withdrawal of relief
Withdrawal of relief
I112
Relief under Part 2 or Part 3 of this schedule is withdrawn or partially withdrawn where paragraphs 13 and 14 apply.
I213
This paragraph applies where control of the acquiring company changes—
a
before the end of the period of 3 years beginning with the effective date of the transaction which is exempt from charge by virtue of Part 2, or is subject to a reduced amount of tax by virtue of Part 3, of this schedule (“the relevant transaction”), or
b
in pursuance of, or in connection with, arrangements made before the end of that period.
I314
This paragraph applies where, at the time the control of the acquiring company changes (“the relevant time”), it or a relevant associated company holds a chargeable interest—
a
that was acquired by the acquiring company under the relevant transaction, or
b
that is derived from a chargeable interest so acquired,
and that has not subsequently been acquired at market value under a chargeable transaction in relation to which relief under this schedule was available but was not claimed.