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HMRC internal manual

Apprenticeship Levy Manual

Mergers, acquisitions and joint ventures: example 1

Two pre-existing companies jointly form a new company

In July 2017, Company A and Company B, who have previously had no connection, form a new Company C. For the remainder of tax year 2017 to 2018, all 3 companies will have separate levy allowances of £15,000 each. At the start of the new tax year in April 2018, they are connected and will have one £15,000 levy allowance to share between all 3 companies.