Section 775 — Corporation Tax Act 2009: Transfers within a group

Transfers within a group 775 1 A transfer of an intangible fixed asset from one company (“ the transferor ”) to another company (“ the transferee ”) is tax-neutral for the purposes of this Part if—

a at the time of the transfer both companies are members of the same group, b immediately before the transfer the asset is a chargeable intangible asset in relation to the transferor, and c immediately after the transfer the asset is a chargeable intangible asset in relation to the transferee.

2 For the consequences of a transfer being tax-neutral for the purposes of this Part, see section 776.

3 Part 4 of TIOPA 2010 (provision not at arm's length) does not apply in relation to a transfer to which subsection (1) applies.

4 Subsection (1) does not apply if—

a the transferor or transferee is a qualifying society within the meaning of section 461A of ICTA (incorporated friendly societies entitled to exemption from tax), ... b the transferee is a dual resident investing company within the meaning of section 949 of CTA 2010 (dual resident investing companies) , or c an election under section 18A has effect in relation to the transferor and the asset has at any time been held by the transferor wholly or partly for the purposes of a permanent establishment in a territory outside the United Kingdom through which the transferor carries on business.