789 Merger carried out for genuine commercial reasons
Corporation Tax Act 2009 (2009 c 4) | Legislation

789  Merger carried out for genuine commercial reasons

(1)     Sections 780 to 787 do not apply if—

(a)     the transferee ceases to be a member of a group of companies (“the group”) as part of a merger,

(b)     the merger is carried out for genuine commercial reasons, and

(c)     the avoidance of liability to tax is not the main purpose of the merger or one of its main purposes.

(2)     For this purpose “merger” means an arrangement in respect of which each of conditions A to D is met.

(3)     Condition A is that—

(a)     as a result of the arrangement one or more companies (“the acquiring company” or “the acquiring

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Mistake in contract law

Mistake in contract lawThis Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of

LEXISNEXIS

Fiduciary Duties

Fiduciary DutiesWho is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business

LEXISNEXIS

Medco

MedcoSTOP PRESS: A new RTA small claims protocol for whiplash claims comes into effect for accidents occurring on or after 31 May 2021. The small claims track limit for personal injury claims arising from an RTA is increased to £5000 in respect of general damages for pain, suffering and loss of

LEXISNEXIS

Arbitration agreements—definition, purpose and interpretation

Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international