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Where Taxpayers and Advisers Meet
is Gain on Transfer of Trade to an intercompany taxable?
Two UK resident companies under common ownership, one transferred its trade to the other connected entity (intercompany), the asset transferred at TWDV (tax neutral) however the buying entity paid the consideration over the value of assets which created a gain on the transfer of trade. the consideration was calculated based on 5 years cashflow/ revenue projection if the selling trade was to carry on. is this gain subject to tax? or any relief can be claimed against this, if it was a share transfer, the SSE would have been applied and wondered whether there is anything similar to relive the company from paying corporation tax on the gain.