Modifications etc. (not altering text)
C1Sch. 29 applied (with modifications) (15.8.2002) by S.I. 2002/1967, regs. 3-6
137(1)For the purposes of this Schedule—
(a)an asset is a “chargeable intangible asset” in relation to a company at any time if, were it to be realised by the company at that time, any gain on its realisation would be a chargeable realisation gain;
(b)there is a “chargeable realisation gain” if a gain on the realisation of an asset gives rise to a credit required to be brought into account for tax purposes under Part 4 (realisation of intangible fixed asset).
(2)For the purposes of sub-paragraph (1)—
(a)there is a gain on the realisation of an asset in any case if the circumstances are such that paragraph 20(2)(a), 21(2)(a) or 23(2) applies, and
(b)there shall be disregarded in determining whether there is such a gain—
(i)the availability of relief under Part 7 (roll-over relief on realisation and reinvestment), and
(ii)any provision of this Schedule under which a transfer of an asset is to be treated as tax-neutral.