Section 850 | Part realisation involving related party acquisition: exclusion of roll-over relief

(1)Chapter 7 (roll-over relief in case of realisation and reinvestment) does not apply in relation to the part realisation by a company of an intangible fixed asset if there is a related party acquisition as a result of, or in connection with, the part realisation.

(2)For this purpose there is a related party acquisition if a person who is a related party in relation to the company acquires an interest of any description—

(a)in the intangible fixed asset, or

(b)in an asset whose value is derived in whole or in part from that asset.