SCHEDULES

SCHEDULE 13Transfer schemes: tax provisions

Part 1Introduction

Meaning of “public body”

1

In this Schedule “public body” means a person which is a public body for the purposes of section 66 of FA 2003 (SDLT: transfers involving public bodies).

Meaning of “taxable public body” and “exempt public body”

2

1

In this Schedule “taxable public body” means a public body which is within the charge to corporation tax.

2

In this Schedule “exempt public body” means a public body which is exempt from corporation tax.

Interpretation: supplementary

3

1

In this Schedule—

  • “CAA 2001” means the Capital Allowances Act 2001 (c. 2);

  • F1“ CTA 2009 ” means the Corporation Tax Act 2009;

  • F2 “ CTA 2010 ” means the Corporation Tax Act 2010;

  • “FA”, followed by a year, means the Finance Act of that year;

  • “ICTA” means the Income and Corporation Taxes Act 1988 (c. 1);

  • “ITA 2007” means the Income Tax Act 2007 (c. 3);

  • “ITTOIA 2005” means the Income Tax (Trading and Other Income) Act 2005 (c. 5);

  • “TCGA 1992” means the Taxation of Chargeable Gains Act 1992 (c. 12);

  • “TMA 1970” means the Taxes Management Act 1970 (c. 9);

  • “transfer scheme” means a scheme made under Schedule 12 to this Act;

  • “transferee”, in relation to a transfer in accordance with a transfer scheme, means the person to whom the transfer is made;

  • “transferor”, in relation to a transfer in accordance with a transfer scheme, means the person from whom the transfer is made.

2

So far as it relates to income tax this Schedule is to be construed as one with the Income Tax Acts.

3

So far as it relates to capital gains tax this Schedule is to be construed as one with TCGA 1992.

4

So far as it relates to corporation tax this Schedule is to be construed as one with the Corporation Tax Acts.

5

So far as it relates to capital allowances this Schedule is to be construed as one with CAA 2001.