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The Northern Rock plc (Tax Consequences) Regulations 2009
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- UK Statutory Instruments
- 2009 No. 3227
- Regulation 6
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Corporation tax: intangible assets
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6.—(1) For the purposes of Part 8 of CTA 2009 (intangible fixed assets), a relevant transfer of a chargeable intangible asset is to be treated as tax-neutral.
(2) Schedule 28AA to the Income and Corporation Taxes Act 1988 (provisions not at arm’s length) does not apply in relation to a relevant transfer to which paragraph (1) applies.
(3) For the purposes of section 882 of CTA 2009 (application of Part 8 to assets created or acquired on or after 1st April 2002), assets acquired by ACo or BCo on a relevant transfer are to be treated as if they were acquired from a person who at the time of the acquisition is a related party.
(4) Expressions used in this regulation and Part 8 of CTA 2009 have the same meaning in this regulation as they have in that Part.
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