SCHEDULES
C1C2SCHEDULE 29Gains and losses of a company from intangible fixed assets
Sch. 29 modified (5.10.2004) by Energy Act 2004 (c. 20), s. 198(2), Sch. 9 para. 28 (with s. 38(2)); S.I. 2004/2575, art. 2(1), Sch. 1
C2Part 9Application of provisions to groups of companies
56Roll-over relief on reinvestment: application to group member
1
The following provisions have effect as regards the application of Part 7 (roll-over relief in case of realisation and reinvestment) in relation to a company that is a member of a group.
2
That Part applies where—
a
the realisation of the old asset is by a company that, at the time of the realisation, is a member of a group,
b
the expenditure on other assets is by another company that, at the time the expenditure is incurred—
i
is a member of the same group as the company mentioned in paragraph (a), and
ii
is not a dual resident investing company,
c
the other assets are chargeable intangible assets in relation to the company mentioned in paragraph (b) immediately after the expenditure is incurred, and
d
the claim is made by both companies,
as if both companies were the same person.
3
That Part does not apply if the expenditure on other assets is expenditure on the acquisition of assets acquired from another member of the same group by a tax-neutral transfer.
4
Expressions used in this paragraph that are defined for the purposes of Part 7 have the same meaning in this paragraph.
Sch. 29 applied (with modifications) (15.8.2002) by S.I. 2002/1967, regs. 3-6