Corporation Tax Act 2010 section 269CL

When a company first begins to carry on relevant regulated activities

Section 269CL defines when a company is considered to have first begun carrying on a relevant regulated activity, including situations where a trade has been transferred from a predecessor company.

• A company first begins a relevant regulated activity on a given day only if it starts such an activity on that day and has never carried one on before
• Where a trade is transferred and the predecessor was carrying on a relevant regulated activity, the successor inherits the predecessor's original start date
• This inherited start date rule also applies where the predecessor was a building society
• The meaning of "transfer of a trade" follows the definition in section 940B of the Corporation Tax Act 2010