[879K Restrictions on debits: acquisition from individual or firm]
Corporation Tax Act 2009 (2009 c 4) | Legislation

[Restrictions on debits: acquisition from individual or firm]

[879K  Restrictions on debits: acquisition from individual or firm]

[(1)     This section applies in respect of a relevant asset of a company if—

(a)     the company acquires the asset on or after 1 April 2019 directly or indirectly from an individual or firm (“the transferor”),

(b)     the related party condition is met, and

(c)     the third party acquisition condition is not met.

(2)     The related party

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Serving outside the jurisdiction with court permission—application and order

This Practice Note addresses issues when serving out of the jurisdiction and the permission of the court is required. It explains how to make an application and the form of order required. An application to serve out of the jurisdiction is generally made without notice and on the papers. Key

LEXISNEXIS

What is electronic money?

What is electronic money?BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant

LEXISNEXIS

Liquidated damages in construction contracts

Liquidated damages in construction contractsThis Practice Note explains what liquidated and ascertained damages (LADs/LDs) are and their purpose in a building contract. It considers the difference between liquidated damages and general (or unliquidated) damages and looks at the enforceability of

LEXISNEXIS

Escrow accounts and escrow agreements

Escrow accounts and escrow agreementsThis Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions