[879N When the partial restrictions apply: acquisition from individual or firm]
Corporation Tax Act 2009 (2009 c 4) | Legislation

[879N  When the partial restrictions apply: acquisition from individual or firm]

[(1)     Section 879O (the partial restrictions on debits) also 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,

(c)     the third party acquisition condition is met, and

(d)     the amount in subsection (6) is less than 1.

(2)     But section 879O does not apply in respect of the relevant asset if either of the following sections applies in respect of it—

(a)     section 879C (restrictions on debits: pre-FA 2019 relevant assets);

(b)     section 879I (restrictions

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Recklessness in criminal cases

Recklessness in criminal casesWhat is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House

LEXISNEXIS

VAT definition

LEXISNEXIS

Criminal damage

Criminal damageGeneralSimple criminal damage is triable either way unless the value of the alleged damage is £5,000 or less, in which case the offence will be treated as if it were triable only summarily.Where the damage is caused by fire or the racially aggravated form of the offence is charged,

LEXISNEXIS

The British Franchise Association (BFA)

The British Franchise Association (BFA)This Practice Note examines the role and remit of the British Franchise Association (the BFA) in the franchise industry in the UK. It looks at the legislative and regulatory framework in the franchise industry, the membership criteria of the BFA, the BFA’s Code