Commentary

B9.201 Nature of disincorporation relief

Business tax
Business tax | Commentary

B9.201 Nature of disincorporation relief

Business tax | Commentary

Division B9.2     Disincorporation

For updates affecting this Division please see Part B0 Updates

Disincorporation

B9.201 Nature of disincorporation relief

Note that this relief does not apply from 1 April 2018.

Legislation previously allowed a company to transfer goodwill and interests in land to its shareholders on disincorporation so that no corporation tax arises on the transfer1 though the relief no longer applies from 1 April 2018.

Disincorporation relief applied where2:

  1.  

    •     a company transfers its business to some or all of its shareholders

  2.  

    •     the transfer is a qualifying business transfer, and

  3.  

    •     the date on which the business is transferred3 falls within

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