SCHEDULES

SCHEDULE 13Transfer schemes: tax provisions

Part 2Transfers etc between taxable public bodies

Continuity in relation to transfer of intangible assets

13

(1)

For the purposes of F1Part 8 of CTA 2009—

(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 an existing asset of the transferor at the time of a relevant transfer is to be treated, on and after the transfer, as an existing asset in the hands of the transferee.

(2)

Expressions used in this paragraph and in that F2Part have the same meanings in this paragraph as in that F2Part.