SCHEDULE 2 Taxation Provisions Relating to Re-structuring etc
Postal Services Act 2011 (2011 c 5) | Legislation

SCHEDULE 2 Taxation Provisions Relating to Re-structuring etc

Section 10

Transfer of securities of subsidiaries of original holding company to Crown etc

1

(1)     This paragraph applies where—

(a)     there is a disposal of securities of a subsidiary of the original holding company to the Secretary of State or the Treasury (or a nominee of either of them) or to a company wholly owned by the Crown, and

(b)     immediately before the disposal, the subsidiary was wholly owned by the original holding company.

(2)     For the purposes of the Taxation of Chargeable Gains Act 1992 the disposal is to be treated in relation to—

(a)     the person making the disposal, and

(b)     the person to whom the disposal is made,

as made for a consideration such that no gain or loss accrues to the person making the disposal.

(3)     The degrouping provisions are not to apply by reason of the disposal or any agreement to make the disposal (if they otherwise would).

(4)     In this Schedule a “degrouping provision†means—

(a)     section 179 of the Taxation of Chargeable Gains Act 1992 (company ceasing to be member of group), or

(b)     paragraph 3 of Schedule 7 to the

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Sentencing for rape

Sentencing for rapeThe Sentencing Council (SC) produces guidance on sentencing for courts in England and Wales in the form of offence specific sentencing guidelines for use in the magistrates’ court and the Crown Court. This Practice Note considers the approach to sentencing for the offences of rape

LEXISNEXIS

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these

LEXISNEXIS

CPR Part 8 claims (alternative procedure for claims)

CPR Part 8 claims (alternative procedure for claims)This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further

LEXISNEXIS

Interim injunctions—the American Cyanamid guidelines

Interim injunctions—the American Cyanamid guidelinesThis Practice Note is concerned with substantive interim injunctions, which are a particular species of injunction granted on a temporary basis ahead of trial. As set out below, there are different considerations depending on whether the interim