Horserace Betting and Olympic Lottery Act 2004

4 Tax

(1) For the purposes of any enactment about income tax, corporation tax or capital gains tax—

(a) the successor company and the Horserace Totalisator Board shall be treated as the same person, and

(b) in particular, the transfer effected by section 2 shall be disregarded.

(2) The transfer effected by section 2—

(a) shall be disregarded for the purpose of section 12 of the Finance Act 1895 (c. 16) (duty on property vested by Act, &c.), and

(b) shall not give rise to liability under an enactment about stamp duty or stamp duty land tax in respect of anything done (by any person) before the transfer.

(3) Nothing in this Part constitutes arrangements for the purposes of—

(a) section 42(2) of the Finance Act 1930 (c. 28) (relief from stamp duty),

(b) section 27(3) of the Finance Act 1967 (c. 54) (stamp duty), or

(c) paragraph 2 of Schedule 7 to the Finance Act 2003 (c. 14) (relief from stamp duty land tax).