Section 672 | Overview of Part

(1)Chapter 2 restricts relief for trading losses in some cases where there is a change in the ownership of a company.

(1A)Chapter 2A restricts relief in some further cases involving a change in the company's activities.^F1

(1B)Chapter 2B restricts relief for trading losses in some cases involving the transfer of an asset.^F1

(1C)Chapters 2C and 2D restrict group relief for carried-forward losses in some cases.^F1

(1D)Chapter 2E restricts relief for trading losses in some cases involving the transfer of a trade.^F1

(2)Chapters 3 and 4 restrict relief in some cases where there is a change in the ownership of a company with investment business.

(3)Chapter 5 restricts relief for property losses in some cases where there is a change in the ownership of a company without investment business.

(3A)Chapter 5A restricts relief for certain non-trading deficits and losses where there is a change of ownership of a shell company.^F2

(4)Chapter 6 enables unpaid corporation tax to be recovered from a linked person in some cases where there is a change in the ownership of a company.

(5)Chapter 8 contains supplementary provision.

(6)See also Chapter 7 of Part 22 (recovery of unpaid corporation tax due from non-UK resident company).

(7)For the meaning of—

(a)“change in the ownership of a company”, see Chapter 7,

(b)“company with investment business”, see section 729, ...^F3

(ba)shell company”, see section 705A, and^F4

(c)“linked” person, see section 706.