SCHEDULE 1CROSS-BORDER TRANSFERS OF BUSINESS

PART 4AMENDMENTS OF FA 2002

Intangible fixed assets

24.  In paragraph 127 (certain assets to be treated as existing assets)—

(a)in sub-paragraph (1)(b)(ii) for “trade” substitute “business”, and

(b)in sub-paragraph (1)(b)(iii)(1) for “(transfer on formation of SE by merger)” substitute “(merger leaving assets within UK tax charge)”.

(1)

Paragraph 127(1)(b)(iii) was inserted by section 59(6) of the Finance (No. 2) Act 2005.