ICTA88/S245B is another provision limiting the right of a company to:

carry forward ACT,


set it against CT liability of a later accounting period where there is a change of its ownership.

Section 245B applies where the company's chargeable profits include a chargeable gain accruing on the disposal of an asset acquired from a company in its new group, and the disposal takes place within three years of the change of ownership.

The section applies when all of the following circumstances apply:

there is a change in the ownership of a company on or after 14 March 1989,

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