Corporation Tax Act 2010 section 940A

Overview of Chapter

Section 940A provides an overview of the rules in Chapter 1 of Part 22, which deals with transfers of trades between commonly owned companies within the charge to corporation tax.

• The chapter applies where a trade is transferred between companies that are within the charge to tax and certain common ownership conditions are satisfied
• Section 940B defines what counts as a "transfer of a trade" for the purposes of this chapter
• Sections 940C to 943 set out the conditions that must be met for the chapter to apply to a particular trade transfer, while sections 943A to 950 describe the tax consequences that follow when those conditions are met
• Sections 951 to 953 contain supplementary provisions, including rules on part-trades and further transfers