D6.330 Special Situations Involving A Transfer Of Trade With Common Ownership—Business Of Leasing Plant Or Machinery

Home / Simons-Taxes / Corporate tax / Part D6 Company reconstruction and profit extraction / Division D6.3 Intra-group reorganisations / Transfer of a trade—75% common ownership / D6.330 Special situations involving a transfer of trade with common ownership—business of leasing plant or machinery

Commentary

Corporate tax

General rule for businesses which lease plant or machinery

Targeted anti-avoidance legislation applies to companies carrying on a business of leasing plant or machinery in relation to the CTA 2010, Pt 22 Ch 1 (ss 940A–953) provisions (ie the succession rules, see D6.315). 'Business of leasing plant or machinery' has the meaning given by CTA 2010, s 387.

For such companies the carry over of capital allowances under CTA 2010, Pt 22 Ch 1 (ss 940A–953) is not possible if the trade concerned is (or forms part of) a business of leasing plant or machinery which the predecessor or the successor carries out on the day

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