[F1Transfer of promotion businessU.K.
Textual Amendments
F1Sch. 33A inserted (with effect in accordance with s. 121(6) of the amending Act) by Finance Act 2021 (c. 26), Sch. 30 para. 10
5(1)A falls within this case if—U.K.
(a)there has been a relevant transfer to A, or
(b)there has been a relevant transfer to a body corporate or partnership that A controls, or has significant influence over.
(2)For the purposes of sub-paragraph (1) “relevant transfer” means a transfer of—
(a)the whole of the business of a person carrying on business as a promoter;
(b)any part of such a business that relates to the promotion of relevant arrangements or relevant proposals;
(c)property, rights or liabilities of such a business that are connected with the promotion of relevant arrangements or relevant proposals.
(3)In sub-paragraph (2) “transfer” means any transfer in substance (whether or not the transfer is formal or for consideration, and whether or not the transfer is direct).
(4)Sub-paragraphs (5) to (11) of paragraph 13A of Schedule 34 (meaning of “control” and “significant influence”) apply to this paragraph as they apply to Part 2 of that Schedule.]