Part 8Intangible fixed assets
Chapter 11Transfer of business or trade
Tax-neutral transfers
822Transfer of assets on European cross-border merger
1
If this section applies, the transfer of qualifying assets in the course of the merger is tax-neutral for the purposes of this Part.
2
For the purposes of this section an asset is a qualifying asset if—
a
it is a chargeable intangible asset in relation to the transferor immediately before the transfer, and
b
it is a chargeable intangible asset in relation to the transferee immediately after the transfer.
3
This section does not apply if section 818 (company reconstruction involving transfer of business) applies to any qualifying assets transferred in the course of the merger.
4
This section does not apply if—
a
one or more of the merging companies is a transparent entity, and
b
the assets and liabilities of a transparent entity are transferred to another company in the course of the merger.
5
This section applies only if the merger meets the genuine commercial transaction requirement (see section 831).
6
For the meaning of expressions used in this section, see section 823.