Part 14 U.K. Change in company ownership

Modifications etc. (not altering text)

C1 Pt. 14 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 20

C2 Pt. 14 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 18 (with ss. 15(1), 16(1), 17)

[F1 CHAPTER 2A U.K. Post-1 April 2017 losses: Further cases involving a change in the company's activities

Textual Amendments

F1 Pt. 14 Ch. 2A inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 75

676AA Introduction to Chapter U.K.

(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.]