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Corporation Tax Act 2010

Section 994: Transfer of part of trade

2948.This section modifies the rules in section 991 if only part of a trade is transferred to a harbour authority under a certified harbour reorganisation scheme. It is based on section 518(8) and (9) of ICTA.

2949.Subsection (4)(b) refers to the need to make “just and reasonable apportionments” in certain circumstances and includes a minor change in the law. The change is made to bring the corporation tax code into line with that for income tax. See Change 33 in Annex 1.

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