SCHEDULES

SCHEDULE 3Saving and transitional provision relating to Part 1

Corporation tax: intangible assets

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1

This paragraph applies for the purposes of Part 8 of the Corporation Tax Act 2009.

2

Expressions used in this paragraph have the same meaning as in that Part.

3

The transfer of a chargeable intangible asset is a tax-neutral transfer.

4

An intangible fixed asset which is a pre-FA 2002 asset of the company at the time of the transfer is to be treated, on and after the transfer, as a pre-FA 2002 asset of the Bank.

5

“Transfer” means a transfer from the company to the Bank by virtue of section 15.