Treating stock acquisition as asset purchase

[Alexpi]

Hi Everyone,

I am wondering if anyone knows of a UK equivalent to the US IRC sec 338(g) election. This election allowed a stock acquisition to be treated as an asset acquisition for the buyer. The seller is taxed as if there was a stock purchase but the buyer is treated as having bought the assets of the target company.

Is there any UK equivalent to this or something close? I am working on a US UK acquisition and I think I have covered all my bases in the US but am begining to look into the UK consequences.

Thanks for your help