Part 14 U.K. Change in company ownership

Modifications etc. (not altering text)

C1 Pt. 14 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 20

C2 Pt. 14 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 18 (with ss. 15(1), 16(1), 17)

Chapter 3 U.K. Company with investment business: restrictions on relief: general provision

Meaning of “significant increase in the amount of a company's capital” U.K.

688 Meaning of “significant increase in the amount of a company's capital” U.K.

(1) This section and sections 689 to 691 have effect for determining whether, for the purposes of section 677(2), there is a significant increase in the amount of a company's capital after a change in the ownership of the company.

(2) There is a significant increase in the amount of a company's capital if amount B—

(a) exceeds amount A by at least £1 million, [F1 , and]

[F1 (b) is at least 125% of amount A.]

(3) For the meaning of—

(a) “amount A” and “amount B”, see sections 689 and 690 respectively, and

(b) “amount of capital”, see section 691.

Textual Amendments

F1 S. 688(2)(b) and word substituted (with effect in accordance with s. 37(6) of the amending Act) by Finance Act 2014 (c. 26), s. 37(2)