SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Crossrail Act 2008 (c. 18)
739
1
Amend Schedule 13 (transfer schemes: tax provisions) as follows.
2
In paragraph 3 (interpretation: supplementary) after the definition of “CAA 2001” insert—
“CTA 2009” means the Corporation Tax Act 2009;
3
In paragraph 5(5)
(computation of profits and losses in respect of transfer of trade) for the words from “under” to the end substitute “
under Part 3 of CTA 2009 in respect of the trade or part of a trade in question for periods in which the trade was carried on wholly or partly in the United Kingdom.
”
4
In paragraph 6(5)
(transfers of trading stock) for “has the same meaning as in section 100 of ICTA” substitute “
has the meaning given by section 163 of CTA 2009
”
.
5
In paragraph 13 (continuity in relation to transfer of intangible assets)—
a
in sub-paragraph (1) for “Schedule 29 to FA 2002” substitute “
Part 8 of CTA 2009
”
, and
b
in sub-paragraph (2) for “Schedule”, in both places where it occurs, substitute “
Part
”
.
6
In paragraph 14 (continuity in relation to loan relationships)—
a
in sub-paragraph (1) for “Chapter 2 of Part 4 of FA 1996” substitute “
Part 5 of CTA 2009
”
, and
b
in sub-paragraph (2) for “paragraph 12(8) of Schedule 9 to” substitute “
section 335(6) of
”
.
7
In paragraph 15 (continuity in relation to derivative contracts)—
a
in sub-paragraph (1) for “Schedule 26 to FA 2002” substitute “
Part 7 of CTA 2009
”
, and
b
in sub-paragraph (2) for “paragraph 28(6) of that Schedule” substitute “
section 624(3) of that Act
”
.
8
In paragraph 18(6)
(transfers of trading stock) for “has the same meaning as in section 100 of ICTA” substitute “
has the meaning given by section 163 of CTA 2009
”
.
9
In paragraph 23 (neutral effect of transfer of intangible assets)—
a
in sub-paragraph (1) for “Schedule 29 to FA 2002” substitute “
Part 8 of CTA 2009
”
, and
b
in sub-paragraph (2) for “Schedule”, in both places where it occurs, substitute “
Part
”
.
10
In paragraph 24 (neutral effect of transfer for loan relationships and derivative contracts)—
a
in sub-paragraph (a) for “Chapter 2 of Part 4 of FA 1996” substitute “
Part 5 of CTA 2009
”
, and
b
in sub-paragraph (b) for “Schedule 26 to FA 2002” substitute “
Part 7 of that Act
”
.
11
In paragraph 34(6)
(transfers of trading stock) for the words from “has” to the end substitute “
has the meaning given by section 174 of ITTOIA 2005 (as respects income tax) or section 163 of CTA 2009 (as respects corporation tax).
”
12
In paragraph 40 (transfers involving private persons: loan relationships)—
a
in sub-paragraph (1) for “Paragraph 11 of Schedule 9 to FA 1996” substitute “
Section 444 of CTA 2009
”
, and
b
in sub-paragraph (2) for “Chapter 2 of Part 4 of FA 1996” and “that Chapter” substitute “
Part 5 of CTA 2009
”
and “
that Part
”
respectively.