SCHEDULES
SCHEDULE 9Taxation provisions relating to nuclear transfer schemes
Part 2Transfers relating to BNFL or the UKAEAetc.
Continuity in relation to transfer of intangible assets
I125
1
Where—
a
property is transferred by a transfer to which this Part of this Schedule applies, and
b
the property transferred includes a chargeable intangible asset of the transferor,
the transfer of that asset is to be treated for the purposes of Schedule 29 to the Finance Act 2002 as a tax neutral transfer.
2
Where, in the case of a transfer of property by a transfer to which this Part of this Schedule applies—
a
the property transferred includes an asset which is not a chargeable intangible asset of the transferor, but
b
that asset falls to be treated after the transfer as a chargeable intangible asset of the transferee,
that asset shall be treated as acquired by the transferee for an amount equal to the amount of the consideration determined for the purposes of paragraph 18(2) of this Schedule.
3
Expressions used in this paragraph and in Schedule 29 to the Finance Act 2002 have the same meanings in this paragraph as in that Schedule.