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HMRC internal manual

Apprenticeship Levy Manual

Mergers, acquisitions and joint ventures: example 2

Two pre-existing companies merge

In July 2017, Company A and Company B merge together and form a new company, Company AB. As this is considered to be a new legal entity, company AB will receive a new £15,000 levy allowance, split into monthly cumulative intervals over the remainder of tax year 2017 to 2018.