# Income and Corporation Taxes Act 1988, Paragraph 8

Extent: E+W+S+N.I.

Without prejudice to the operation of Chapter 1 of Part 22 of CTA 2010 in a case where the company is the predecessor, within the meaning of that Chapter, and a company resident in the United Kingdom is the successor, within the meaning of that Chapter—
(a) the assumption that the company is resident in the United Kingdom shall not be regarded as requiring it also to be assumed that the company is within the charge to tax in respect of a trade for the purposes of that Chapter, and
(b) except in so far as the company is actually within that charge (by carrying on the trade through a permanent establishment in the United Kingdom), it shall accordingly be assumed that the company can never be the successor, within the meaning of that Chapter, to another company (whether resident in the United Kingdom or not).

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/24/paragraph/8 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-24/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.