Corporation Tax Act 2009 (c. 4)

Part 8 U.K. Intangible fixed assets

Modifications etc. (not altering text)

C1 Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)

C2 Pt. 8 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)

C3 Pt. 8 modified (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(1); S.I. 2011/2329, art. 3

C4 Pt. 8 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 1(3); S.I. 2012/628, art. 3(b)

C5 Pt. 8 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(1); S.I. 2011/2576, art. 5

C6 Pt. 8 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)

Chapter 9 U.K. Application of this Part to groups of companies

Roll-over relief under Chapter 7 (realisation and reinvestment) U.K.

778 Relief on reinvestment: acquisition of group company: introduction U.K.

(1) Chapter 7 (roll-over relief in case of realisation and reinvestment) applies in accordance with section 779 if—

(a) a company (“A”) acquires a controlling interest in another company (“B”), and

(b) intangible fixed assets (“underlying assets”) are held by B or one or more other companies within subsection (2).

(2) A company is within this subsection if—

(a) it was not in the same group as A before the acquisition, and

(b) as a result of the acquisition it is in the same group as A immediately after it.

(3) For this purpose A acquires a controlling interest in B if—

(a) A and B are not in the same group,

(b) A acquires shares in B, and

(c) as a result of the acquisition A and B are in the same group immediately after the acquisition.

(4) A claim for relief under Chapter 7 made because of section 779 must be made jointly by A and the company or companies holding the underlying assets concerned.

(5) In this section and section 779 expressions that are defined for the purposes of Chapter 7 have the same meaning as in that Chapter.