5: DISPOSAL OF BUSINESS ASSETS59 Corporation taxMany company reorganisations involve the transfer of the whole or part of a (target) company’s business to another (acquiring) company. Under normal rules, any gain on the transfer of chargeable assets gives rise to a charge to corporation tax. Any assets included in the transfer are, however, treated as if they were acquired by the acquiring company from the target company for such a consideration as will result in neither a gain nor a loss for the disposing company provided certain conditions are satisfied.The conditions are1:59.1 there must be a scheme of
Many company reorganisations involve the transfer of the whole or part of a (target) company’s business to another (acquiring) company. Under normal rules, any gain on the transfer of chargeable assets gives rise to a charge to corporation tax. Any assets included in the transfer are, however, treated as if they were acquired by the acquiring company from the target company for such a consideration as will result in neither a gain nor a loss for the disposing company provided certain conditions are satisfied.
The conditions are1:
there must be a scheme of
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
0330 161 1234