Related Commentary  Related HMRC Manuals

857(1)  This section applies if–

(a)a company is treated for the purposes of this Part as acquiring an asset at market value, but

(b)the accounting value of the asset transferred is nil in the hands of the transferee.

857(2)  In such a case any reference in this Part to–

(a)the cost of the asset recognised for accounting purposes,

(b)the accounting value of the asset, or

(c)any loss recognised for accounting purposes in respect of capitalised expenditure on the asset,

is a reference to the cost, value or loss that would have been recognised if the asset had been acquired at market value.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.