Part 8 Transferred Trades
Finance (No 2) Act 2017 (2017 c 32) | Legislation

Part 8 Transferred Trades

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Chapter 1 of Part 22 of CTA 2010 (transfers of trade without a change of ownership) is amended as follows.

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In section 940A (overview of Chapter) in subsection (4) for “944†substitute “943Aâ€.

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Before section 944 (but after the italic heading preceding that section) insert—

“943A Disapplication of section 39

If this Chapter applies to a transfer of a trade, section 39 (terminal losses: extension of periods for which relief may be given) does not apply in relation to a claim under section 37 by the predecessor for relief for a loss made in the transferred trade.â€

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(1)     Section 944 (modified application of Chapter 2 of Part 4) is amended as follows.

(2)     In the heading for “Chapter 2 of Part 4†substitute “section 45â€.

(3)     Omit subsections (1) and (2).

(4)     In subsection (3)—

(a)     for “Relief†substitute “If this Chapter applies to a transfer of a trade, reliefâ€, and

(b)     after “carry forward of†insert “pre-1 April 2017â€.

(5)     In subsection (4) after paragraph (a) insert—

“(ab)     any claim made by the predecessor under section 45F in reliance on subsection (2) of section 944C,â€.

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After

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