Part 14

Change in company ownership
CHAPTER 2A

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

Introduction to Chapter
676AA
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.
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
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
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)