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HMRC internal manual

Apprenticeship Levy Manual

Mergers, acquisitions and joint ventures: example 4

One pre-existing company transfers its business between 2 other companies

Company A ceases to trade in July 2017. Company B and Company C are set up to transfer 50% of Company A to Company B and 50% of Company A to Company C. Company B and Company C will each be eligible to receive their own £15,000 allowance for the remainder of that tax year. Whether they have the full annual allowance of £15,000 in the next tax year will depend on whether they are connected to another employer.