Finance Act 2000

Transitional provision in relation to IRUs

6 (1) This Schedule does not apply to IRUs acquired before 21st March 2000.

(2) This Schedule does not apply to an IRU by virtue of its being acquired on or after that date, directly or indirectly, from an associate or an associated company if the associate or associated company acquired the IRU before that date.

For this purpose—

• “associate” has the meaning given by section 417(3) and (4) of the Taxes Act 1988; and

• “associated company”—

  (a)

  in relation to another company, has the meaning given by section 416(1) of that Act, and

  (b)

  in relation to an individual, means a company of which that individual has control within the meaning of subsections (2) to (6) of that section.