Section 81.
SCHEDULE 4Transfer to the Post Office company: tax
Corporation tax: general
1The Post Office company shall, on and after the appointed day, be treated for all purposes of corporation tax as if it were the same person as the Post Office.
Shares and other securities
2Any share issued by the Post Office company or any of its wholly owned subsidiaries in pursuance of section 63 shall be treated for the purposes of the Corporation Tax Acts as if it had been issued wholly in consideration of a subscription paid to the company concerned of an amount equal to the nominal value of the share.
3Any security (other than a share) issued by the Post Office company or any of its wholly owned subsidiaries in pursuance of section 63 or 74 shall be treated for the purposes of the Corporation Tax Acts as if it had been issued wholly in consideration of a loan made to the company concerned of an amount equal to the principal sum payable under the security.
Debt
4Any debt assumed by the Post Office company under section 74(1) shall be treated for the purposes of the Corporation Tax Acts as if it had been assumed wholly in consideration of a loan made to the company of an amount equal to the principal sum payable under the debt.
Transfer arrangements
5The existence or exercise of the powers of the Secretary of State under section 62 shall not be regarded as constituting or creating arrangements within the meaning of section 410 of the [1988 c. 1.] Income and Corporation Taxes Act 1988 (arrangements for the transfer of a company to another group or consortium).
Tax-free benefits
6Nothing in this Part and nothing done under it shall be regarded as a scheme or arrangement for the purposes of section 30 of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992 (tax-free benefits).
Assets acquired by the Post Office in 1969
7The Act of 1992 shall apply in relation to a disposal by the Post Office company of an asset acquired by the Post Office by virtue of Part III of the [1969 c. 48.] Post Office Act 1969 as if the acquisition or provision of the asset by the Crown had been the acquisition or provision of it by the Post Office company.
Value added tax
8The Post Office company shall, on and after the appointed day, be treated for all purposes of value added tax as if it were the same person as the Post Office.
Stamp duty
9No transfer effected by virtue of section 62 shall give rise to any liability to stamp duty.