Part 14Change in company ownership

F1CHAPTER 2APost-1 April 2017 losses: Further cases involving a change in the company's activities

676AAIntroduction to Chapter

(1)

This Chapter applies if conditions 1 and 2 are met.

(2)

Condition 1 is that on or after 1 April 2017 there is a change in the ownership of a company (“the transferred company”).

(3)

Condition 2 is that a major change in the business of the transferred company or a co-transferred company occurs within the required period but not before 1 April 2017.

(4)

The required period is—

(a)

for the purposes of section 676AF, any period beginning no more than 3 years before the change in ownership occurs which is a period of 5 years in which that change occurs,

(b)

for the purposes of sections 676AG to 676AK, the period of 8 years beginning 3 years before the change in ownership.

(5)

In this Chapter—

“the change in ownership” means the change in ownership mentioned in subsection (2);

“the transferred company” has the meaning given by subsection (2);

“trade” includes an office.