Section 343 ICTA 1988

ICTA88/S343 provides, broadly, that when a trade passes from one company to another one in common ownership, losses in the first company can be carried forward into the second company. Guidance on this legislation can be found in the Company Taxation Manual at CTM06060 (LLM10000). Its application to general insurance companies is explained at GIM4000+ of the General Insurance Manual (LLM10000).

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