Point in time view as at 19/07/2007.
Finance Act 2007, Paragraph 2 is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
2(1)Section 444A of ICTA (transfers of business: expenses, losses and section 432F(2) excesses) is amended as follows.U.K.
(2)In subsection (1), omit “Subject to subsection (7) below,”.
(3)Omit—
(a)subsection (7) (section not to apply if transfer is not for bona fide commercial reasons or forms part of avoidance scheme), and
(b)subsection (8) (clearance procedure as to non-application of subsection (7)).
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