Section 357EE — Corporation Tax Act 2010: Transfer of a trade between group members

Transfer of a trade between group members 357EE 1 This section applies where—

a there is a set-off amount in relation to a trade of a company for an accounting period, b the company is a member of a group, c the company ceases to carry on the trade, and d another company (“ the transferee ”) that is a member of the group begins to carry on that trade.

2 For the purposes of this Chapter an amount equal to the set-off amount is to become, or be added to, the set-off amount in relation to the trade of the transferee for the accounting period in which the transferee begins to carry on the trade.