C1C4C3C5C7C2C6Part 8Intangible fixed assets

Annotations:
Modifications etc. (not altering text)
C4

Pt. 8 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)

C5

Pt. 8 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 1(3); S.I. 2012/628, art. 3(b)

C2

Pt. 8 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)

C6

Pt. 8 modified (6.4.2020) by Finance Act 2019 (c. 1), Sch. 5 paras. 35, 45 (with Sch. 5 para. 36)

C1C3C7Chapter 16Pre-FA 2002 assets etc

Assets treated as pre-FA 2002 assets

892Certain assets acquired on transfer of business F1or transfer within a group

1

This section applies if—

a

a company (“the transferor”) transfers to another company (“the transferee”) an asset that is a pre-FA 2002 asset in the hands of the transferor company,

b

the transfer is one in relation to which the transferor is treated for the purposes of TCGA 1992 as disposing of the asset for a consideration that secures that neither a gain nor a loss accrues to it, and

c

it is so treated because of a provision specified in subsection (2).

2

The provisions are—

a

section 139 of TCGA 1992 (reconstruction involving transfer of business),

b

section 140A of that Act (transfer or division of UK business), F4...

c

section 140E of that Act (merger leaving assets within UK tax charge)F3, and

d

section 171 of that Act (transfers within a group).

3

In the hands of the transferee the asset is treated for the purposes of this Part as a pre-FA 2002 asset.

4

This section does not apply if the transfer mentioned in subsection (1) occurred before 28 June 2002.

F25

If the transfer mentioned in subsection (1) occurred before 1 July 2020, this section applies as if paragraph (d) of subsection (2) were omitted.