Corporation Tax Act 2009

775Transfers within a groupU.K.

(1)A transfer of an intangible fixed asset from one company (“the transferor”) to another company (“the transferee”) is tax-neutral for the purposes of this Part if—

(a)at the time of the transfer both companies are members of the same group,

(b)immediately before the transfer the asset is a chargeable intangible asset in relation to the transferor, and

(c)immediately after the transfer the asset is a chargeable intangible asset in relation to the transferee.

(2)For the consequences of a transfer being tax-neutral for the purposes of this Part, see section 776.

(3)[F1Part 4 of TIOPA 2010] (provision not at arm's length) does not apply in relation to a transfer to which subsection (1) applies.

(4)Subsection (1) does not apply if—

(a)the transferor or transferee is a qualifying society within the meaning of section 461A of ICTA (incorporated friendly societies entitled to exemption from tax), F2...

(b)the transferee is a dual resident investing company within the meaning of [F3section 949 of CTA 2010 (dual resident investing companies)] [F4, or

(c)an election under section 18A has effect in relation to the transferor and the asset has at any time been held by the transferor wholly or partly for the purposes of a permanent establishment in a territory outside the United Kingdom through which the transferor carries on business.]