Section 1024: Transfer of qualifying business by group transfers
2650.This section gives relief to a new employing company if the business carried on by the original employing company is transferred within a group of companies. It is based on paragraph 23 of Schedule 23 to FA 2003.
2651.The definition of group transfer is in section 1004(3).
2652.Paragraph 23(1)(a) of Schedule 23 to FA 2003 applies the rule rewritten in this section to an award of shares. The rule for relief given by Chapter 2 of this Part is not rewritten here as that Chapter gives no scope for a transfer of the business before the shares are acquired.
