Localism Act 2011 (c. 20)

SCHEDULES

SCHEDULE 24 U.K. Transfers and transfer schemes: tax provisions

PART 1 U.K. Transfer under paragraph 63 of Schedule 16

1 (1) For the purposes of any enactment about income tax or corporation tax, the Office and the HCA are to be treated as the same person. U.K.

(2) In particular, the transfer effected by paragraph 63 of Schedule 16 is to be disregarded for those purposes.

(3) Accordingly, that transfer is not to be regarded for the purposes of Part 8 of the Corporation Tax Act 2009 (gains and losses from intangible fixed assets) as involving any realisation of an asset by the Office or acquisition of an asset by the HCA.

(4) In this paragraph—

• “enactment” includes an enactment contained in an instrument made under an Act,

• “the HCA” means the Homes and Communities Agency, and

• “the Office” means the Office for Tenants and Social Landlords.

Commencement Information

I1 Sch. 24 in force for specified purposes at Royal Assent see s. 240(5)(o)

I2 Sch. 24 para. 1 in force at 30.3.2012 for E.W. by S.I. 2012/628, art. 3(b)