OT18190 - PRT: transfer of licence interests - net profit period

Net Profit Period, FA81\S112

In determining the new participator바카라 사이트™s net profit period (FA81\S111, see OT12650) following a transfer of a field interest, one must take the earlier of:

  1. Its own net profit period (on the assumption that all (or an appropriate part in the case of a part-transfer) of the old participator바카라 사이트™s (OP) assessable profits and allowable losses had been its own), and
  2. OP바카라 사이트™s net profit period or, if there are several OPs, the earliest of their net profit periods.

On a part transfer, OP바카라 사이트™s net profit period is recalculated, following the transfer to NP of part of its assessable profits and allowable losses.

If NP were already a participator and had reached its net profit period in relation to its original interest in a chargeable period before it acquired OP바카라 사이트™s interest, then the timing of OP바카라 사이트™s net profit period is ignored (FA81\S112(5)).