# Corporation Tax Act 2009, Section 778: Relief on reinvestment: acquisition of group company: introduction


(1) Chapter 7 (roll-over relief in case of realisation and reinvestment) applies in accordance with section 779 if—
(a) a company (“A”) acquires a controlling interest in another company (“B”), and
(b) intangible fixed assets (“underlying assets”) are held by B or one or more other companies within subsection (2).
(2) A company is within this subsection if—
(a) it was not in the same group as A before the acquisition, and
(b) as a result of the acquisition it is in the same group as A immediately after it.
(3) For this purpose A acquires a controlling interest in B if—
(a) A and B are not in the same group,
(b) A acquires shares in B, and
(c) as a result of the acquisition A and B are in the same group immediately after the acquisition.
(4) A claim for relief under Chapter 7 made because of section 779 must be made jointly by A and the company or companies holding the underlying assets concerned.
(5) In this section and section 779 expressions that are defined for the purposes of Chapter 7 have the same meaning as in that Chapter.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/778 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-778
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.