The Mutual Societies (Transfers of Business) (Tax) (Amendment) Regulations 2024
These Regulations amend the Mutual Societies (Transfers of Business) (Tax) Regulations 2009 (“the principal Regulations”) which make provision for and in connection with the tax consequences of a transfer of the business or engagements of a mutual society. The amendments made by these Regulations apply the provisions of the Corporation Tax Act 2010 in relation to carried forward trading losses on a transfer of business between building societies.