SCHEDULES

SCHEDULE 5Non-UK resident companies carrying on UK property businesses etc

PART 3Commencement and transitional provisions

46Transitional provisions

1

An election under section 792 of CTA 2009 (reallocation of degrouping charge within a group) may not be made if—

a

subsection (3A) of section 793 applies to B, and

b

the relevant time is before 5 July 2016.

2

An election under section 792 of CTA 2009 may not be made if—

a

subsection (3B) of section 793 applies to B, and

b

the relevant time is before the commencement date.

3

In this paragraph references to “B” and “the relevant time” must be read in accordance with section 792 of CTA 2009.