C1C4C3C5C7C2C6Part 8Intangible fixed assets

Annotations:
Modifications etc. (not altering text)
C4

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)

C5

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)

C2

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)

C6

Pt. 8 modified (6.4.2020) by Finance Act 2019 (c. 1), Sch. 5 paras. 35, 45 (with Sch. 5 para. 36)

C2Chapter 9Application of this Part to groups of companies

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

778Relief on reinvestment: acquisition of group company: introduction

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.