Company A sells short-life assets to parent Co B (the balancing allowances are nice, but this is not the motive for the transfer). Q - does the 8-year clock start ticking again or does B 'inherit' A's date of expenditure? I can't see anything that says the date is transferred across and. given that a balancing adjustment has been recognised by A it seems logical to assume that the 8-year clock starts anew?
EDIT - please ignore, the answer was easier to find than I thought
BUT - as a follow up, if I'm reading the legislation correctly (and I may well not be) it seems to suggest that if A and B so elect, the assets are treated as transferred at TWDV, so no BA/BC for A, but B can then claim AIA, because s217 is specifically disapplied. Doesn't sound right, but is it?