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Corporation Tax Act 2010

Corporation Tax Act 2010

2010 CHAPTER 4

Introduction

Part 22: Miscellaneous provisions

Chapter 2: Transfers of trade to obtain balancing allowances
Section 954: Transfer of activities on complete cessation of trade

2848.This section deals with capital allowance schemes involving the transfer of activities on the complete cessation of a trade. It is based on section 343ZA(1), (4), and (5) of ICTA.

2849.Subsection (1) states when this section applies.

2850.Subsection (2) modifies the application of CAA in cases in which this section applies.

2851.Section 343ZA(4) of ICTA modifies the application of section 343(2) of that Act. Section 343(2) is rewritten in section 948. Subsections (3) to (5) are based on section 343ZA(4) of ICTA; for the convenience of the reader, they restate the propositions in section 948(2) to (4) rather than applying those provisions with modifications.

2852.Subsection (6) applies if the successor carries on the activities of the trade as part of its trade.

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