[211ZA Transfers of business: transfer of unused losses]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[211ZA  Transfers of business: transfer of unused losses]

[(1)     This section applies where—

(a)     an insurance business transfer scheme has effect to transfer business consisting of or including basic life assurance and general annuity business from one person (“the transferor”) to another (“the transferee”) or more than one others (“the transferees”), and

(b)     the transferor has relevant unused losses.

(2)     For the purposes of subsection (1)(b) above the transferor has relevant unused losses if—

(a)     BLAGAB allowable losses accrue to the transferor in the accounting period ending with the day of the transfer or have so accrued in any earlier accounting period, and

(b)     they are not deducted from chargeable gains accruing to the transferor in that accounting period and have not been deducted from chargeable gains

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