SCHEDULES
SCHEDULE 7Transfer schemes: tax
Corporation tax: capital gains
7I1
1
This paragraph applies in respect of property transferred under a transfer scheme from—
a
the Urban Regeneration Agency,
b
the Commission for the New Towns, or
c
the Housing Corporation.
2
Section 17 of TCGA (disposals and acquisitions treated as at market value) shall not apply.
3
For the purposes of TCGA the transfer (in relation to the transferor and the transferee) is to be taken as being a disposal for a consideration such that neither gain nor loss accrues.
8I2
A transfer shall be disregarded for the purposes of section 30 of TCGA (value-shifting: tax-free benefits).
F19I3
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