Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 22: Miscellaneous provisions

Chapter 1: Transfers of trade without a change of ownership

Section 947: Rules for determining “A”

2815. This section supplements section 945 of this Act. It is based on section 344(5), (7) and (10) of ICTA.

2816. Section 344(7)(a) of ICTA defines “the value of assets (other than money)”. Subsection (3) omits as unnecessary the reference to money.