Railways Act 2005 (c. 14)

SCHEDULES

SCHEDULE 10 E+W+S Taxation provisions relating to transfer schemes

Part 2 E+W+S Other transfers under section 1(2) schemes

Trading losses: change in ownership E+W+S

11 (1) This paragraph applies to a relevant transfer of all the issued share capital of a company (the “transferred company”). E+W+S

(2) For the purposes of [F1 the provisions of the Corporation Tax Act 2010 specified in sub-paragraph (3)], the transfer is not to be taken to result in a change in the ownership of—

(a) the transferred company; or

(b) a company which is a wholly-owned subsidiary of the transferred company when the transfer takes effect.

[F2 (3) Those provisions are—

(a) Chapter 2 of Part 14 (but not section 674(1)),

(b) section 683,

(c) section 684,

(d) section 700,

(e) section 701,

(f) section 704, and

(g) section 705.]

Textual Amendments

F1 Words in Sch. 10 para. 11(2) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 478(2)(a) (with Sch. 2)

F2 Sch. 10 para. 11(3) inserted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 478(2)(b) (with Sch. 2)

Commencement Information

I1 Sch. 10 para. 11 in force at 8.6.2005 by S.I. 2005/1444, art. 2(1), Sch. 1