Section 676AA — Corporation Tax Act 2010: Introduction to Chapter

Introduction to Chapter 676AA 1 This Chapter applies if conditions 1 and 2 are met.

2 Condition 1 is that on or after 1 April 2017 there is a change in the ownership of a company (“the transferred company”).

3 Condition 2 is that a major change in the business of the transferred company or a co-transferred company occurs within the required period but not before 1 April 2017.

4 The required period is—

a for the purposes of section 676AF, any period beginning no more than 3 years before the change in ownership occurs which is a period of 5 years in which that change occurs, b for the purposes of sections 676AG to 676AK, the period of 8 years beginning 3 years before the change in ownership.

5 In this Chapter— “ the change in ownership ” means the change in ownership mentioned in subsection (2); “ the transferred company ” has the meaning given by subsection (2); “ trade ” includes an office.