Railways Act 2005

Continuity in relation to transfer of intangible assets E+W+S

17 (1) For the purposes of [F1 Part 8 of the Corporation Tax Act 2009]— E+W+S

(a) a relevant transfer of a chargeable intangible asset of the transferor is to be treated as a tax-neutral transfer; and

(b) an intangible fixed asset which is [F1 a pre-FA 2002 asset] of the transferor at the time of the transfer is to be treated, on and after the transfer, as [F1 a pre-FA 2002 asset] in the hands of the transferee.

(2) Expressions used in this paragraph and in [F2 that Part] have the same meanings in this paragraph as in [F2 that Part].

Textual Amendments

F1 Words in Sch. 10 para. 17(1) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 667(4)(a) (with Sch. 2 Pts. 1, 2)

F2 Words in Sch. 10 para. 17(2) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 667(4)(b) (with Sch. 2 Pts. 1, 2)

Commencement Information

I1 Sch. 10 para. 17 in force at 8.6.2005 by S.I. 2005/1444, art. 2(1), Sch. 1