- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/07/2020)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 01/07/2020.
Corporation Tax Act 2009, Cross Heading: Assets treated as pre-FA 2002 assets is up to date with all changes known to be in force on or before 04 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(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), F2...
(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.
[F4(5)If the transfer mentioned in subsection (1) occurred before 1 July 2020, this section applies as if paragraph (d) of subsection (2) were omitted.]
Textual Amendments
F1Words in s. 892 heading inserted (with effect in accordance with s. 31(14)(15) of the amending Act) by Finance Act 2020 (c. 14), s. 31(10)(a)
F2Word in s. 892(2)(b) omitted (with effect in accordance with s. 31(14)(15) of the amending Act) by virtue of Finance Act 2020 (c. 14), s. 31(10)(b)
F3S. 892(2)(d) and word inserted (with effect in accordance with s. 31(14)(15) of the amending Act) by Finance Act 2020 (c. 14), s. 31(10)(c)
F4S. 892(5) inserted (with effect in accordance with s. 31(14)(15) of the amending Act) by Finance Act 2020 (c. 14), s. 31(10)(d)
(1)This section applies if—
(a)[F5during the period beginning with 1 April 2002 and ending with 30 June 2020] a company (“the acquiring company”) acquires an intangible fixed asset (“the acquired asset”) from a person (“the transferor”),
(b)the acquired asset is created on or after 1 April 2002,
(c)at the time of the acquisition the transferor and the acquiring company are related parties,
(d)the value of the acquired asset derives in whole or in part from any other asset (“the other asset”), and
(e)the other asset meets the preserved status conditions (see section 894).
(2)In the hands of the acquiring company the acquired asset is treated for the purposes of this Part as a pre-FA 2002 asset so far as its value derives from the other asset.
(3)If only part of the value of the acquired asset derives from the other asset—
(a)this Part applies as if there were a separate asset representing the part of the value that does not so derive, and
(b)the alternative enactments apply as if there were a separate asset representing the part of the value that does so derive.
(4)In subsection (3) “the alternative enactments” means the enactments that apply where this Part does not apply.
(5)For the purposes of this section the cases in which the value of an asset may be derived from any other asset include any case where—
(a)assets have been merged or divided,
(b)assets have changed their nature, or
(c)rights or interests in or over assets have been created or extinguished.
(6)Section 894 supplements this section.
Textual Amendments
F5Words in s. 893(1)(a substituted (with effect in accordance with s. 31(14)(15) of the amending Act) by Finance Act 2020 (c. 14), s. 31(11)
(1)For the purposes of section 893(1) the other asset meets the preserved status conditions if subsections (2) and (3) apply.
(2)This subsection applies if on or after 1 April 2002 the other asset—
(a)has been a pre-FA 2002 asset in the hands of the transferor at a time when the transferor and the acquiring company were related parties, or
(b)has been a pre-FA 2002 asset in the hands of any other person at a time when—
(i)the other person and the acquiring company were related parties, or
(ii)the other person and the transferor were related parties.
(3)This subsection applies if the other asset has not at any time on or after 5 December 2005 been a chargeable intangible asset in the hands of—
(a)the acquiring company,
(b)a person who is a related party in relation to that company, or
(c)the transferor.
(4)It does not matter for the purposes of section 893(1)(b) who created the acquired asset.
(5)Any apportionment necessary for the purposes of section 893(3) must be made on a just and reasonable basis.
(6)Sections 883 to 889 (provisions explaining when assets are treated as created or acquired) apply for the purposes of section 893 as they apply for the purposes of section 882.
[F6(6A)Section 882(5A) to (5D) applies for the purposes of section 893 and this section.]
(7)Expressions used in this section have the same meaning as in section 893.
Textual Amendments
F6S. 894(6A) inserted (with effect in accordance with s. 52(5) of the amending Act) by Finance Act 2016 (c. 24), s. 52(3)
(1)This section applies if—
(a)a person disposes of an asset which is a pre-FA 2002 asset in the person's hands at the time of the disposal,
(b)[F7at any time before 1 July 2020] a company acquires an intangible fixed asset directly or indirectly in consequence of the disposal or otherwise in connection with it,
(c)the company and the person are related parties at the time of the disposal, and
(d)the acquired asset would be a chargeable intangible asset in the hands of the company at the time of the acquisition apart from this section.
(2)The acquired asset is treated for the purposes of this Part as a pre-FA 2002 asset in the company's hands.
(3)For the purposes of this section—
(a)“asset”, in relation to any disposal, means any asset for the purposes of TCGA 1992,
(b)a person “disposes of” an asset if, for the purposes of that Act, the person makes a part disposal of the asset or any other disposal of it, and
(c)the time at which a disposal of an asset is made is the time at which it is made for the purposes of that Act.
(4)For the purposes of this section it does not matter whether—
(a)the asset that the person disposes of is the same asset as the acquired asset,
(b)the acquired asset is acquired at the time of the disposal, or
(c)the acquired asset is acquired by merging assets or otherwise.
[F8(5)Section 882(5A) to (5D) applies for the purposes of this section.]
Textual Amendments
F7Words in s. 895(1)(b) inserted (with effect in accordance with s. 31(14)(15) of the amending Act) by Finance Act 2020 (c. 14), s. 31(12)
F8S. 895(5) inserted (with effect in accordance with s. 52(5) of the amending Act) by Finance Act 2016 (c. 24), s. 52(4)
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Part you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Part you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Ddeddf Gyfan heb Atodlenni you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Pwynt Penodol mewn Amser: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys