SCHEDULES

SCHEDULE 4 U.K. Transfer of property etc to Council

Continuity in relation to transfer of intangible assets U.K.

10 (1) For the purposes of Schedule 29 to the Finance Act 2002 (c. 23)— U.K.

(a) a transfer by a transfer scheme 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 an existing asset of the transferor at the time of the transfer is to be treated, on and after the transfer, as an existing asset in the hands of the Council.

(2) Expressions used in this paragraph and in that Schedule have the same meanings in this paragraph as in that Schedule.

Commencement Information

I1 Sch. 4 para. 10 in force at 21.12.2007 by S.I. 2007/3546, art. 3, Sch.