Related Commentary  Related HMRC Manuals

561A(1)  This section applies to the transfer of a qualifying asset as part of the process of a merger to which section 140E of TCGA 1992 (mergers: assets within UK tax charge) applies (or would apply but for section 140E(2)(c)).

561A(2)  Where this section applies to a transfer–

(a)the transfer does not give rise to any allowance or charge under this Act,

(b)anything done to or by the transferor in relation to assets transferred is to be treated after the transfer as having been done to or by the transferee (with any necessary apportionment of expenditure being made in a reasonable manner), and

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