14ZC(1)  In a case where the transferor is an EEA or a Treaty firm, modify section 444ABB (retained assets) as follows.

14ZC(2)  In subsection (1)–

(a)for “RL13” (in both places) substitute “RL”; and

(b)in the definition of RL13, for “AL13” substitute “APL”.

14ZC(3)  In subsection (1A) for paragraphs (a) to (c) substitute–

“(a)APL is the amount of the profit or loss for the financial year shown in the balance sheet in the periodical return for the last period of account of the transferor ending before the transfer date, together with–

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