Section 676EE Interpretation of ChapterF1
Section 940B (meaning of “transfer of trade” and related expressions) applies for the purposes of this Chapter as it applies for the purposes of Chapter 1 of Part 22.
In this Chapter “co-transferred company” means any company which is related to the transferred company both immediately before and immediately after the change in ownership.
For the purposes of this Chapter any two companies (“T”) and (“C”) are “related” to one another at any time when—
the group condition is met in relation to T and C, or
any of consortium conditions 1 to 4 is met in relation to T and C,
(whether on the assumption that T is the claimant company and C is the surrendering company or vice versa).
In this Chapter—
“consortium condition 1” is to be interpreted in accordance with section 188CF,
“consortium condition 2” is to be interpreted in accordance with section 188CG,
“consortium condition 3” is to be interpreted in accordance with section 188CH,
“consortium condition 4” is to be interpreted in accordance with section 188CI,
“the group condition” is to be interpreted in accordance with section 188CE.”
Annotations
Textual amendments
- F1
Pt. 14 Ch. 2E inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 79
Notes on Part 14
Modifications
- C1
Pt. 14 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 20
- C2
Pt. 14 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 18 (with ss. 15(1), 16(1), 17)
Notes on Chapter 2E
Modifications
- C1
Pt. 14 Ch. 2E modified (15.5.2024) by S.I. 2009/2971, reg. 4(19) (as inserted by The Mutual Societies (Transfers of Business) (Tax) (Amendment) Regulations 2024 (S.I. 2024/555), regs. 1(1), 2(2)(c) (with reg. 1(2)-(5)))