Corporation Tax Act 2010 (c. 4)

Part 22 U.K. Miscellaneous provisions

Chapter 1 U.K. Transfers of trade without a change of ownership

Modifications etc. (not altering text)

C1 Pt. 22 Ch. 1 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 19 (with ss. 15(1), 16(1), 17)

C2 Pt. 22 Ch. 1 modified (15.5.2024) by S.I. 2009/2971, reg. 4(20) (as inserted by The Mutual Societies (Transfers of Business) (Tax) (Amendment) Regulations 2024 (S.I. 2024/555), regs. 1(1), 2(2)(c) (with reg. 1(2)-(5)))

Transfers to which Chapter applies U.K.

943 The tax condition U.K.

(1) The tax condition is that, in the period mentioned in subsection (2), the transferred trade is carried on only by companies within the charge to corporation tax or income tax in respect of the trade.

(2) That period is the period—

(a) beginning with the latest time at which the requirement of section 941(1)(b) is met for the purposes of the ownership condition, and

(b) ending with the earliest time at which the requirement of section 941(1)(a) is met for the purposes of that condition.

(3) If at any time the activities of the transferred trade are actually included in the activities of another trade, subsection (1) applies in relation to that time as if references to the transferred trade were references to the other trade.