Corporation Tax Act 2010 (c. 4)

Part 23 U.K. Company distributions

Chapter 5 U.K. Demergers

Exempt distributions U.K.

1076 Transfer of shares in subsidiaries to members U.K.

A distribution is an exempt distribution if—

(a) it consists of the transfer by a company to all or any of its members of shares in one or more companies which are its 75% subsidiaries,

(b) each of conditions A to F in sections 1081 and 1082 is met in respect of the distribution, and

(c) if the company making the transfer is a 75% subsidiary of another company, conditions L and M in section 1085 are met in respect of the distribution.