- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)After paragraph 85 of Schedule 29 to FA 2002 (intangible fixed assets: gains and losses: transfer of trade) insert—
85A(1)This paragraph applies where—
(a)an SE is formed by the merger of two or more companies in accordance with Articles 2(1) and 17(2)(a) or (b) of Council Regulation (EC) 2157/2001 on the Statute for a European Company (Societas Europaea),
(b)each merging company is resident in a member State,
(c)the merging companies are not all resident in the same State, and
(d)paragraph 84 above does not apply to any qualifying transferred assets.
(2)Where this paragraph applies a transfer of qualifying transferred assets is treated for the purposes of this Schedule as tax-neutral (see paragraph 140).
(3)For the purposes of sub-paragraphs (1) and (2) an asset is a qualifying transferred asset if—
(a)it is transferred as part of the process of the merger,
(b)it is a chargeable intangible asset in relation to the transferor immediately before the transfer, and
(c)it is a chargeable intangible asset in relation to the transferee immediately after the transfer.
(4)Sub-paragraph (2) shall apply in relation to the formation of an SE by merger only if—
(a)it is effected for bona fide commercial reasons, and
(b)it does not form part of a scheme or arrangements of which the main purpose, or one of the main purposes, is avoiding liability to corporation tax, capital gains tax or income tax.
(5)Paragraph 84(6) (and therefore paragraph 88) shall apply, with any necessary modifications, in relation to sub-paragraph (4) above as in relation to paragraph 84(5).
(6)For the purposes of this paragraph a company is resident in a member State if—
(a)it is within a charge to tax under the law of the State as being resident for that purpose, and
(b)it is not regarded, for the purposes of any double taxation relief arrangements to which the State is a party, as resident in a territory not within a member State.”
(2)Subsection (1) shall have effect in relation to the formation of an SE which occurs on or after 1st April 2005.
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