Section 1084 — Corporation Tax Act 2010: Cases where condition K does not apply

Cases where condition K does not apply 1084 1 Condition K need not be met if the distributing company is a 75% subsidiary of another company.

2 Condition K need not be met if—

a there are two or more transferee companies each of which has transferred to it—

i a trade, or ii shares in a separate 75% subsidiary of the distributing company, and b the distributing company is dissolved without there having been after the distribution any net assets of the company available for distribution on a winding up or otherwise.