Paragraph 473

(1)

Amend Schedule 26 (transfers: tax) as follows.

(2)

In paragraph 7—

(a)

in sub-paragraph (2) for “Chapter II of Part IV of the Finance Act 1996” substitute “ Part 5 of the Corporation Tax Act 2009 ”, and

(b)

in sub-paragraph (4) for “Chapter II of Part IV of the Finance Act 1996” and “that Chapter” substitute “ Part 5 of the Corporation Tax Act 2009 ” and “ that Part ” respectively.

(3)

For paragraph 13(1) substitute—

“(1)
Sub-paragraphs (2) to (4) apply if—
(a)
the transferor ceased to carry on a trade by virtue of a relevant transfer taking effect, and
(b)
on the taking effect of that transfer, the transferee began to carry on the trade.
This sub-paragraph is to be read with sub-paragraph (8).”

(4)

In paragraph 17—

(a)

in sub-paragraph (2) for “Chapter II of Part IV of the Finance Act 1996” substitute “ Part 5 of the Corporation Tax Act 2009 ”, and

(b)

in sub-paragraph (3) for “Chapter II of Part IV of the Finance Act 1996” and “that Chapter” substitute “ Part 5 of the Corporation Tax Act 2009 ” and “ that Part ” respectively.

(5)

In paragraph 29—

(a)

in sub-paragraph (2) for “Chapter II of Part IV of the Finance Act 1996” substitute “ Part 5 of the Corporation Tax Act 2009 ”, and

(b)

in sub-paragraph (3) for “Chapter II of Part IV of the Finance Act 1996” and “that Chapter” substitute “ Part 5 of the Corporation Tax Act 2009 ” and “ that Part ” respectively.

(6)

In paragraph 35—

(a)

in sub-paragraph (1) for “paragraph 11 of Schedule 9 to the Finance Act 1996” substitute “ section 444 of the Corporation Tax Act 2009 ”, and

(b)

in sub-paragraph (2) for “Chapter II of Part IV of the Finance Act 1996” and “that Chapter” substitute “ Part 5 of the Corporation Tax Act 2009 ” and “ that Part ” respectively.