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CIRD42140 | Intangible assets: company reorganisations: amalgamation of business of building societies, industrial and provident societies and co-operative associations

From HM Revenue & Customs · Corporate Intangibles Research and Development Manual

CTA09/PART8/S826

Scope

This paragraph applies to:

  • Building societies.

  • Registered industrial and provident societies within the meaning of CTA10/S47.

  • Co-operative associations that are treated in the same way as industrial and provident societies by CTA10/S47.

Effect

Where a chargeable intangible asset (CIRD20035) is disposed of by one of the concerns mentioned above to another such concern in the course of or as part of an amalgamation or transfer of engagements, it passes on a tax neutral basis (CIRD40300) for the purposes of CTA09/PART8.