Paragraph 5 I1

(1)

This paragraph applies in respect of property transferred under a transfer scheme from—

(a)

the Urban Regeneration Agency, or

(b)

the Commission for the New Towns.

(2)

Where the property was used by the transferor, and is to be used by the transferee, in connection with a trade, section 343(2) of ICTA (company reconstructions: capital allowances) shall apply.

Annotations

Commencement

I1: Sch. 7 para. 5 in force at 8.9.2008 as it applies in relation to, or makes provision about the tax implications of, schemes under ss. 51 and 65 by S.I. 2008/2358, arts. 2(1), 3(1)