C1SCHEDULE 1CROSS-BORDER TRANSFERS OF BUSINESS
Annotations:
Modifications etc. (not altering text)
PART 4AMENDMENTS OF FA 2002
23
After paragraph 58(5) of Schedule 29 insert—
6
Where a relevant asset is transferred as part of the process of a transfer to which paragraph 85 or 87 applies, and in consequence of the transfer the transferee ceases to be a member of a group (“Group 1”)—
a
the transferee shall not be treated for the purposes of this paragraph as having left Group 1, and
b
if in consequence of the transfer the transferee becomes a member of another group (“Group 2”) it shall be treated, for the purposes of this section, as if Group 1 and Group 2 were the same.
Sch. 1 modified (retrospective to 29.11.2007) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2008 (S.I. 2008/1579), regs. 1(2), 4