Section 357EE | Transfer of a trade between group members

(1)This section applies where—

(a)there is a set-off amount in relation to a trade of a company for an accounting period,

(b)the company is a member of a group,

(c)the company ceases to carry on the trade, and

(d)another company (“the transferee”) that is a member of the group begins to carry on that trade.

(2)For the purposes of this Chapter an amount equal to the set-off amount is to become, or be added to, the set-off amount in relation to the trade of the transferee for the accounting period in which the transferee begins to carry on the trade.