Part 11 Contributions
Chapter 2 Contribution allowances
Effect of transfers of C’s trade on contribution allowances under Parts 3, 4 and 5
542 Transfer of C’s trade F1...
(1)
Subsections (2) and (3) apply for the purposes of contribution allowances under F2Part 5 if—
(a)
C’s contribution was made for the purposes of C’s trade F1..., and
(b)
the whole or a part of the trade F1... is subsequently transferred.
(2)
If the whole of the trade F1... is transferred, writing-down allowances for chargeable periods ending after the date of the transfer are to be made to the transferee instead of to the transferor.
(3)
If a part of the trade F1... is transferred, writing-down allowances for chargeable periods ending after the date of the transfer are to be made to the transferee instead of to the transferor to the extent that they are properly referable to the part transferred.