SCHEDULES
SCHEDULE 13Transfer schemes: tax provisions
Part 3Transfers etc from taxable public bodies to exempt public bodies
Capital allowances: determination of disposal value of plant or machinery
19
1
This paragraph applies to a relevant transfer of plant or machinery which is a disposal event for the purposes of Part 2 of CAA 2001 (capital allowances for plant and machinery).
2
For the purposes of the application of section 61 of that Act in relation to the transferor, the disposal value of the plant or machinery is to be treated—
a
if a capital sum is received by the transferor by way of consideration or compensation in respect of the transfer, as an amount equal to that sum, or
b
if no such sum is received, as nil.
3
For the purposes of this paragraph a sum received by a person connected with the transferor is to be treated as received by the transferor.
4
Section 88 of CAA 2001 (sales at an undervalue) is to be disregarded.
5
This paragraph is subject to sections 63(5) and 68 of CAA 2001.