Paragraph 22

United Kingdom

(1)

F1Sections 838 and 839 of the Corporation Tax Act 2010 (sale and lease-back: limitation on tax reliefs) F2, and sections 681AD and 681AE of the Income Tax Act 2007 (which make corresponding provision), shall not apply where the liability of the transferor or of the person associated with that transferor is as a result of—

(a)

the creation, in accordance with a transfer scheme, of any interest or right in favour of a transferee or the BBC;

(b)

any other transaction for which a transfer scheme provides; or

(c)

the grant by a company which is a transferee under a transfer scheme (“the relevant company”) to the BBC or to another company which is a transferee (whether under that or any other transfer scheme) of any interest or right, at a time when the relevant company remains a wholly-owned subsidiary of the BBC, in a case where the ability of the relevant company to grant that interest or right derives from the transfer to the company in accordance with a transfer scheme of an estate or interest in land.

(2)

In this paragraph “transferor” has the same meaning as in F3section 835 or 836 of the Corporation Tax Act 2010 F4or section 681AA or 681AB of the Income Tax Act 2007 and “associated” shall be construed in accordance with F5section 847 of the Corporation Tax Act 2010 F6or section 681AM of the Income Tax Act 2007.

Annotations

Textual amendments

F1: Words in Sch. 7 para. 22(1) 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. 294(6) (with Sch. 2)
F2: Words in Sch. 7 para. 22(1) inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 8 para. 246(2) (with Sch. 9 paras. 1-9, 22)
F3: Words in Sch. 7 para. 22(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. 294(7)(a) (with Sch. 2)
F4: Words in Sch. 7 para. 22(2) inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 8 para. 246(3)(a) (with Sch. 9 paras. 1-9, 22)
F5: Words in Sch. 7 para. 22(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. 294(7)(b) (with Sch. 2)
F6: Words in Sch. 7 para. 22(2) inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 8 para. 246(3)(b) (with Sch. 9 paras. 1-9, 22)