[F1Supplementary provisionsU.K.
Textual Amendments
F1Pt. 8 Chs. 16A, 16B inserted (with effect in accordance with s. 31(14)(15) of the amending Act) by Finance Act 2020 (c. 14), s. 31(13)
900GMeaning of “relieving acquisition”U.K.
For the purposes of this Chapter, an asset is the subject of a relieving acquisition if it is acquired by a company from a person who at the time of the acquisition is not a related party in relation to the company.
900HSupplementary provision about when two persons are relatedU.K.
(1)References in this Chapter to one person being a related party in relation to another person are to be read as including references to the participation condition being met as between those persons.
(2)References in subsection (1) to a person include a firm in a case where, for section 1259 purposes, references in this Chapter to a company are read as references to the firm.
(3)In subsection (2) “section 1259 purposes” means the purposes of determining under section 1259 the amount of profits or losses to be allocated to a partner in a firm.
(4)Section 148 of TIOPA 2010 (when the participation condition is met) applies for the purposes of subsection (1) as it applies for the purposes of section 147(1)(b) of TIOPA 2010.
900IAcquisition of asset in pursuance of an unconditional obligationU.K.
(1)A company that acquires an intangible fixed asset in pursuance of an unconditional obligation under a contract is to be treated for the purposes of this Chapter as having acquired the asset on the date on which the company became subject to that obligation or (if later) the date on which that obligation became unconditional.
(2)An obligation is unconditional if it may not be varied or extinguished by the exercise of a right (whether under contract or otherwise).]