Energy Act 2004 (c. 20)

SCHEDULES

SCHEDULE 9 U.K. Taxation provisions relating to nuclear transfer schemes

Part 4 U.K. Transfer of Nuclear Liabilities Investment Portfolio

Application of Part 4 of Schedule U.K.

31 U.K. This Part of this Schedule applies to a transfer to the Secretary of State in accordance with a nuclear transfer scheme containing provision authorised by section 42 of this Act.

Commencement Information

I1 Sch. 9 para. 31 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1

Chargeable gains: assets to be treated as disposed without a gain or a loss U.K.

32 (1) This paragraph applies for the purposes of the 1992 Act where an asset is transferred by a transfer to which this Part of this Schedule applies. U.K.

(2) The asset shall be treated as disposed of to the Secretary of State for a consideration of such amount as would secure that, on the disposal, neither a gain nor a loss accrues to BNFL.

Commencement Information

I2 Sch. 9 para. 32 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1

Neutral effect of transfer for loan relationships and derivative contracts U.K.

33 U.K. No credit or debit shall be required or allowed, in respect of a transfer to which this Part of this Schedule applies, to be brought into account in BNFL’s case—

(a) for the purposes of [F1 Part 5 of the Corporation Tax Act 2009] (loan relationships); or

(b) for the purposes of [F2 Part 7 of the Corporation Tax Act 2009].

Textual Amendments

F1 Words in Sch. 9 para. 33(a) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 586(9)(a) (with Sch. 2 Pts. 1, 2)

F2 Words in Sch. 9 para. 33(b) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 586(9)(b) (with Sch. 2 Pts. 1, 2)

Commencement Information

I3 Sch. 9 para. 33 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1