¶80-410 Withdrawal of reconstruction or acquisition relief
Disqualifying change of control within three years
Both reconstruction and acquisition relief are withdrawn if:
(a)there is a change of control of the acquiring company within three years after the effective date of the transaction (or under arrangements made within that three year period); and
(b)when the control changes, either the acquiring company or a ‘relevant associated company’ holds a chargeable interest in land acquired under the relevant transaction (or is derived therefrom) and which has not been acquired at market value under a chargeable transaction where reconstruction or acquisition relief was available but not claimed.
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