{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-857",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-857.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/857",
  "kind": "section",
  "number": "857",
  "heading": "Deemed market value or arm’s length acquisition: adjustment where nil or negligible accounting value",
  "text": "(1) This section applies if—\n(a) a company is treated for the purposes of this Part as acquiring an asset at market value or by reference to the arm’s length provision, but\n(b) the accounting value of the asset transferred is nil , or a negligible value, in the hands of the transferee.\n(2) In such a case any reference in this Part to—\n(a) the cost of the asset recognised for accounting purposes,\n(b) the accounting value of the asset, or\n(c) any loss recognised for accounting purposes in respect of capitalised expenditure on the asset,\nis a reference to the cost, value or loss that would have been recognised if the asset had been acquired at market value or (as the case may be) by reference to the arm’s length provision.\n(3) If the asset is revalued, the revaluation is ignored.\n(4) In this section “revaluation” has the same meaning as in section 723 (see subsection (5) of that section) and “revalued” must be read accordingly.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 857(1)(a) inserted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2026 (c. 11), Sch. 6 paras. 27(3)(a), 28"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 857(1)(b) inserted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2026 (c. 11), Sch. 6 paras. 27(3)(b), 28"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 857(2) inserted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2026 (c. 11), Sch. 6 paras. 27(4), 28"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 857 heading inserted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2026 (c. 11), Sch. 6 paras. 27(2)(a), 28"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 857 heading inserted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2026 (c. 11), Sch. 6 paras. 27(2)(b), 28"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/857",
    "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."
}