{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-345",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-345.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/345",
  "kind": "section",
  "number": "345",
  "heading": "Transferee leaving group otherwise than because of exempt distribution",
  "text": "(1) This section applies if—\n(a) the transferee ceases to be a member of the relevant group, and\n(b) it does not so cease just because of a distribution which is exempt as a result of section 1075 of CTA 2010 (exempt distributions).\n(2) ... This Part applies as if—\n(a) the transferee had assigned the asset or liability representing the relevant loan relationship immediately before ceasing to be a member of the relevant group,\n(b) the assignment had been for consideration of an amount equal to the fair value of the asset or liability at that time, and\n(c) the transferee had immediately reacquired the asset or liability for consideration of the same amount.\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 345(1)(b) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 606 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 345(2) omitted (with effect in accordance with s. 28(4) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 28(2)(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 345(3)-(5) omitted (with effect in accordance with s. 28(4) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 28(2)(b)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 345 excluded (with effect in accordance with reg. 1(2) of the amending S.I.) by Mutual Societies (Transfers of Business) (Tax) Regulations 2009 (S.I. 2009/2971), regs. 1(1), 25(3)(b) (with reg. 25(6))"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "S. 345 applied (with effect in accordance with reg. 1(2) of the amending S.I.) by Mutual Societies (Transfers of Business) (Tax) Regulations 2009 (S.I. 2009/2971), regs. 1(1), 25(5)(a) (with reg. 25(6))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/345",
    "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."
}