Part XII Supplementary Provisions

Taxation provisions

419 Taxation.

1

The following bodies, namely—

a

Transport for London,

b

the Metropolitan Police Authority, and

c

the London Fire and Emergency Planning Authority,

shall each be treated as a local authority for the purposes of the enactments mentioned in subsection (2) below.

2

The enactments are—

a

section 519 of the M1Income and Corporation Taxes Act 1988 (exemption of local authorities from F1corporation tax); F2...

F3aa

section 838 of the Income Tax Act 2007 (exemption of local authorities from income tax); and

b

section 271 of the M2Taxation of Chargeable Gains Act 1992 (exemption of local authorities from capital gains tax).

3

In sections 170 to 181 of the M3Taxation of Chargeable Gains Act 1992 (groups of companies) references to a company do not apply to Transport for London.

4

Schedule 33 to this Act (which makes further provision about taxation) shall have effect.