The Mutual Societies (Transfers of Business) (Tax) (Amendment) Regulations 2024
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
2 Amendment of the Mutual Societies (Transfers of Business) (Tax) Regulations 2009
(1) The Mutual Societies (Transfers of Business) (Tax) Regulations 2009 are amended as follows. (2) In regulation 4— (a) in paragraph (2), for “(3) to (18)” substitute “(19) and (20)”; (b) omit paragraphs (3) to (18); (c) at the end insert— (19) If Chapter 2E of Part 14 of the Corporation Tax Act 2010 (post-1 April 2017 trade losses: cases involving the transfer of a trade) would not otherwise apply to the relevant transfer, that Chapter has effect as if— (a) section 676EA were omitted; (b) in each place, references to “the transferred company” were to “the transferor” in relation to a relevant transfer; (c) in sections 676EB(1)(a) and 676EC(1)(a), for “8 years beginning 3 years before the change in ownership” there were substituted “5 years beginning with the date of the relevant transfer”; (d) in sections 676EB(1)(b) and 676EC(1)(b), after “applies” there were inserted “, or is treated as applying”; (e) in each place, references to “the change in ownership” were to “the relevant transfer”; (f) in section 676EC— (i) in paragraph (1)(a), “or a co-transferred company” were omitted; (ii) in paragraph (2)(b)(i), “or the co-transferred company” were omitted; (iii) in paragraph (6), “or co-transferred company” were omitted; (g) in section 676ED— (i) in paragraphs (1) and (4)(a), “or a co-transferred company” were omitted in each place; (ii) in paragraphs (2) and (5), “or (as the case maybe) the co-transferred company)” were omitted in each place. (20) If Chapter 1 of Part 22 of the Corporation Tax Act 2010 (transfers of a trade without a change of ownership) would not otherwise apply to the relevant transfer, that Chapter applies to the relevant transfer as a transfer of a trade (within section 940B of that Act) and has effect as if sections 940A, 940C to 943 and 953 were omitted.
2 Amendment of the Mutual Societies (Transfers of Business) (Tax) Regulations 2009
(1) The Mutual Societies (Transfers of Business) (Tax) Regulations 2009 are amended as follows. (2) In regulation 4— (a) in paragraph (2), for “(3) to (18)” substitute “(19) and (20)”; (b) omit paragraphs (3) to (18); (c) at the end insert— (19) If Chapter 2E of Part 14 of the Corporation Tax Act 2010 (post-1 April 2017 trade losses: cases involving the transfer of a trade) would not otherwise apply to the relevant transfer, that Chapter has effect as if— (a) section 676EA were omitted; (b) in each place, references to “the transferred company” were to “the transferor” in relation to a relevant transfer; (c) in sections 676EB(1)(a) and 676EC(1)(a), for “8 years beginning 3 years before the change in ownership” there were substituted “5 years beginning with the date of the relevant transfer”; (d) in sections 676EB(1)(b) and 676EC(1)(b), after “applies” there were inserted “, or is treated as applying”; (e) in each place, references to “the change in ownership” were to “the relevant transfer”; (f) in section 676EC— (i) in paragraph (1)(a), “or a co-transferred company” were omitted; (ii) in paragraph (2)(b)(i), “or the co-transferred company” were omitted; (iii) in paragraph (6), “or co-transferred company” were omitted; (g) in section 676ED— (i) in paragraphs (1) and (4)(a), “or a co-transferred company” were omitted in each place; (ii) in paragraphs (2) and (5), “or (as the case maybe) the co-transferred company)” were omitted in each place. (20) If Chapter 1 of Part 22 of the Corporation Tax Act 2010 (transfers of a trade without a change of ownership) would not otherwise apply to the relevant transfer, that Chapter applies to the relevant transfer as a transfer of a trade (within section 940B of that Act) and has effect as if sections 940A, 940C to 943 and 953 were omitted.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
How this law is officially changed
Solon does not know this law's official route yet. The proposal is recorded all the same, and the route appears here once its source is added.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.