Related Commentary  Related HMRC Manuals

217D(1)  Subsection (2) applies if–

(a)there is a union or amalgamation of two or more relevant bodies or a transfer of engagements from one relevant body to another, and

(b)in the course of, or as part of, that union, amalgamation or transfer there is a disposal of an asset by one relevant body to another.

217D(2)  Both bodies are treated for the purposes of corporation tax on chargeable gains as if the asset were acquired from the body making the disposal for a consideration which is of the amount needed to secure that on the disposal neither a gain nor a loss accrues to the body making the disposal.

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