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The Transfer of the Northern Ireland Water Service (Tax) Regulations 2007

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Chargeable gains: degrouping charges

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7.—(1) This regulation applies if the successor company acquires an asset from the transferor by way of a relevant transfer at a time when both are members of the same group of companies.

(2) Where paragraph (1) applies the successor company shall not be treated as having acquired the asset from the transferor for the purposes of section 179 of TCGA (company ceasing to be member of group).

(3) Expressions used in this regulation and in section 179 of TCGA have the same meanings in this regulation as in that section.

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