Commentary

D7.5175 General principles

Corporate tax
Corporate tax | Commentary

D7.5175 General principles

Corporate tax | Commentary

Transfers of long-term business before 1 July 2008

D7.5175 General principles

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

The commercial, regulatory and legal issues referred to in D7.5156 apply equally to transfers of insurance business before 1 July 2008 but the tax rules, although similar in policy objective, achieved their goal in a different manner.

In the normal course of events, companies transferring assets as part of a scheme of reconstruction or amalgamation may benefit from the relief in TCGA

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