Section 892 — Corporation Tax Act 2009: Certain assets acquired on transfer of business or transfer within a group

Certain assets acquired on transfer of business or transfer within a group 892 1 This section applies if—

a a company (“ the transferor ”) transfers to another company (“ the transferee ”) an asset that is a pre-FA 2002 asset in the hands of the transferor company, b the transfer is one in relation to which the transferor is treated for the purposes of TCGA 1992 as disposing of the asset for a consideration that secures that neither a gain nor a loss accrues to it, and c it is so treated because of a provision specified in subsection (2).

2 The provisions are—

a section 139 of TCGA 1992 (reconstruction involving transfer of business),

b section 140A of that Act (transfer or division of UK business), ... c section 140E of that Act (merger leaving assets within UK tax charge) , and d section 171 of that Act (transfers within a group) .

3 In the hands of the transferee the asset is treated for the purposes of this Part as a pre-FA 2002 asset.

4 This section does not apply if the transfer mentioned in subsection (1) occurred before 28 June 2002.

5 If the transfer mentioned in subsection (1) occurred before 1 July 2020, this section applies as if paragraph (d) of subsection (2) were omitted.