Section 782 — Corporation Tax Act 2009: Certain transferees of businesses etc not treated as leaving group

Certain transferees of businesses etc not treated as leaving group 782 1 This section applies if—

a the relevant asset is transferred in the course of a transfer of business to which section 820 applies or which includes such a transfer as is mentioned in section 116(2)(b)(iii) of TIOPA 2010 and in respect of which section 117 of that Act applies (European cross-border transfers of business),

and b in consequence of the transfer the transferee ceases to be a member of a group (“Group 1”).

2 For the purposes of section 780, the transferee is not treated as having left Group 1.

3 If as a result of the transfer the transferee becomes a member of another group (“Group 2”), it is treated for the purposes of section 780 as if Group 1 and Group 2 were the same.

4 References in this section to “the transferee” and “the relevant asset” must be read in accordance with section 780.