{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-1112G",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-1112G.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/1112G",
  "kind": "section",
  "number": "1112G",
  "heading": "Meaning of “going concern”",
  "text": "(1) For the purposes of section 1112F, a company is a going concern if—\n(a) its latest published accounts were prepared on a going concern basis, and\n(b) nothing in those accounts indicates that they were prepared on that basis only because of an entitlement or expected entitlement to a credit or relief under this Part.\n(2) But a company is not a going concern if it is in administration or liquidation.\n(3) For the purposes of this section, a company is in administration if—\n(a) it is in administration under Part 2 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), or\n(b) a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.\n(4) For the purposes of this section, a company is in liquidation if—\n(a) it is in liquidation within the meaning of section 247 of that Act or Article 6 of that Order, or\n(b) a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.\n(5) If—\n(a) a company transfers its trade and research and development to another company that is a member of the same group, and\n(b) only by reason of that transfer, the company’s accounts for the period of account in which the transfer took place are not prepared on a going concern basis,\nthe accounts are to be treated for the purposes of this section as if they were prepared on a going concern basis.\n(6) Section 436(2) of the Companies Act 2006 (meaning of “publication” of documents) has effect for the purposes of this section.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 13 Ch. 8 substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 8, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/1112G",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}