Part 14 Change in company ownership

Chapter 4 Company with investment business: restrictions on relief: asset transferred within group

Introduction

693 Meaning of “amount of profits which represents a relevant gain”
(1) In this Chapter, the amount of any profits which represents a relevant gain is found by comparing—
(a) the amount (“Y”) of the relevant gain, with
(b) the amount (“Z”) which is included in respect of chargeable gains or, as the case may be, non-trading chargeable realisation gains for the accounting period concerned.
(2) If Y does not exceed Z, the amount of the profits which represents the relevant gain equals Y.
(3) If Y exceeds Z, the amount of those profits equals Z.