SCHEDULES

SCHEDULE 7Transfer schemes: tax

Corporation tax: capital gains

7I1

1

This paragraph applies in respect of property transferred under a transfer scheme from—

a

the Urban Regeneration Agency,

b

the Commission for the New Towns, or

c

the Housing Corporation.

2

Section 17 of TCGA (disposals and acquisitions treated as at market value) shall not apply.

3

For the purposes of TCGA the transfer (in relation to the transferor and the transferee) is to be taken as being a disposal for a consideration such that neither gain nor loss accrues.

Annotations:
Commencement Information
I1

Sch. 7 para. 7 in force at 8.9.2008 as it applies in relation to, or makes provision about the tax implications of, schemes under ss. 51 and 65 by S.I. 2008/2358, arts. 2(1), 3(1)

8I2

A transfer shall be disregarded for the purposes of section 30 of TCGA (value-shifting: tax-free benefits).

Annotations:
Commencement Information
I2

Sch. 7 para. 8 in force at 8.9.2008 as it applies in relation to, or makes provision about the tax implications of, schemes under ss. 51 and 65 by S.I. 2008/2358, arts. 2(1), 3(1)

F19I3

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