Corporation tax: capital gainsE+W
7(1)This paragraph applies in respect of property transferred under a transfer scheme from—E+W
(a)the Urban Regeneration Agency,
(b)the Commission for the New Towns, or
(c)the Housing Corporation.
(2)Section 17 of TCGA (disposals and acquisitions treated as at market value) shall not apply.
(3)For the purposes of TCGA the transfer (in relation to the transferor and the transferee) is to be taken as being a disposal for a consideration such that neither gain nor loss accrues.
Commencement Information
I1Sch. 7 para. 7 in force at 8.9.2008 as it applies in relation to, or makes provision about the tax implications of, schemes under ss. 51 and 65 by S.I. 2008/2358, arts. 2(1), 3(1)
8E+WA transfer shall be disregarded for the purposes of section 30 of TCGA (value-shifting: tax-free benefits).
Commencement Information
I2Sch. 7 para. 8 in force at 8.9.2008 as it applies in relation to, or makes provision about the tax implications of, schemes under ss. 51 and 65 by S.I. 2008/2358, arts. 2(1), 3(1)
F19E+W. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 7 para. 9 repealed (1.12.2008) by Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008 (S.I. 2008/3002), art. 1(2), Sch. 1 para. 59, Sch. 3 (with Sch. 2) (see S.I. 2008/3068, art. 2(1)(b))
Commencement Information
I3Sch. 7 para. 9 in force at 8.9.2008 as it applies in relation to, or makes provision about the tax implications of, schemes under ss. 51 and 65 by S.I. 2008/2358, arts. 2(1), 3(1)