Section 41 — Corporation Tax Act 2010: Sections 39 and 40: transfers of trade to obtain relief

Sections 39 and 40: transfers of trade to obtain relief 41 Sections 39 and 40 do not apply by reason of a company ceasing to carry on a trade if—

a on the company ceasing to carry on the trade, any of the activities of the trade begin to be carried on by a person who is not (or by persons any or all of whom are not) within the charge to corporation tax, and b the company's ceasing to carry on the trade is part of a scheme or arrangement the main purpose, or one of the main purposes, of which is to secure that either or both of those sections apply in relation to a loss by reason of the cessation.