Corporation Tax Act 2009

782 Certain transferees of businesses etc not treated as leaving group U.K.

(1) This section applies if—

(a) the relevant asset is transferred in the course of a transfer of business to which section 820 applies or which includes such a transfer as is mentioned in [F1 section 116(2)(b)(iii) of TIOPA 2010] and in respect of which [F2 section 117] of that Act applies (European cross-border transfers of business), and

(b) in consequence of the transfer the transferee ceases to be a member of a group (“Group 1”).

(2) For the purposes of section 780, the transferee is not treated as having left Group 1.

(3) If as a result of the transfer the transferee becomes a member of another group (“Group 2”), it is treated for the purposes of section 780 as if Group 1 and Group 2 were the same.

(4) References in this section to “the transferee” and “the relevant asset” must be read in accordance with section 780.

Textual Amendments

F1 Words in s. 782(1)(a) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 94(a) (with Sch. 9 paras. 1-9, 22)

F2 Words in s. 782(1)(a) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 94(b) (with Sch. 9 paras. 1-9, 22)

Modifications etc. (not altering text)

C1 Pt. 8 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)