2013 No. 489
Corporation Tax
Income Tax

The Natural Resources Body for Wales (Tax Consequences) Order 2013

Made
Laid before the House of Commons
Coming into force
The Treasury make this Order in exercise of the powers conferred by section 25 of the Public Bodies Act 20111.

Citation and Commencement1.

This Order may be cited as the Natural Resources Body for Wales (Tax Consequences) Order 2013 and comes into force on 1st April 2013.

Transfers from the Countryside Council for Wales to the Natural Resources Body for Wales2.

(1)

This article applies in the case of any transfer of property, rights or liabilities from the Countryside Council for Wales to the Natural Resources Body for Wales as a result of a transfer scheme made by the Welsh Ministers under section 23 of the Public Bodies Act 2011.

(2)

For the purposes of the Tax Acts2 those bodies are to be treated as the same person.

(3)

In particular, the transfer is to be disregarded for those purposes.

David Evennett
Anne Milton
Two of the Lords Commissioners of Her Majesty’s Treasury
EXPLANATORY NOTE
(This note is not part of the Order)

This Order deals with tax consequences of a transfer scheme made under section 23 of the Public Bodies Act 2011 (c. 24) transferring property, rights and liabilities from the Countryside Council for Wales (“the CCW”) to the Natural Resources Body for Wales (“the NRBW”).

For income tax and corporation tax purposes the CCW and the NRBW are to be treated as the same person and in particular any transfer of property, rights or liabilities from the CCW to the NRBW is to be disregarded for those purposes.

A Tax Information and Impact Note covering this instrument will be published on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm.