CTM40545 | Particular bodies: registered societies: assets transferred to another society
From HM Revenue & Customs · Company Taxation Manual
ensures that no chargeable gain will arise on a disposal of an asset by one registered society to another in the course of, or as part of, an amalgamation of societies or a transfer of engagements from one society to another. In computing chargeable gains, and for this purpose only, the consideration for the asset is treated as an amount giving rise to neither gain nor loss.
For other purposes (for example, capital allowances) use the actual consideration paid. Where, however, the society is carrying on a trade and the conditions of are met (transfers of trade without change of owmership) capital allowances transfer at written down value and the trading losses of the old society may also transfer to the new society, see onwards.