Part 14 U.K. Change in company ownership

[F1 CHAPTER 2A U.K. Post-1 April 2017 losses: Further cases involving a change in the company's activities

Textual Amendments

F1 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

676AA Introduction to Chapter U.K.

(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.]