As mentioned in CIRD42050, the occasions of charge dealt with there are further deferred in certain circumstances.
If the transferor company disposes of the shares or loan stock
in the transferee company within the terms of Section 171, then the
taxable credit is deferred. It will not be triggered until a
disposal of the shares or loan stocks first takes place outside the
terms of Section 171.
Seek advice from CT&VAT (Technical) where the loan stock
is transferred in circumstances where FA96/SCH9/PARA12 provides for
continuity of treatment (see CTM56200 onwards).
Where the non-resident company ('the transferee') transfers the
intangibles acquired under the original transfer to another member
of the worldwide group there will be a deferral of the taxable
credit mentioned in
CIRD42060. This deferral will last
unless or until there is a transfer to a non-member of the
worldwide group within six years of the original transfer. In those
circumstances this will be deemed to represent a disposal by the
transferee, and the result will be that a taxable credit will be
charged on the original transferor.
See
CIRD40030 for the definition of a group
of companies and the absence of any requirement that group members
must be UK resident.
