Intangible fixed assets on the transfer of a trade
Produced in partnership with Anne Fairpo of Temple Tax Chambers
Intangible fixed assets on the transfer of a trade

The following Tax practice note Produced in partnership with Anne Fairpo of Temple Tax Chambers provides comprehensive and up to date legal information covering:

  • Intangible fixed assets on the transfer of a trade
  • Genuine commercial purpose
  • Company reconstructions
  • Cross-border transfers of business
  • EU transfer of a UK business
  • EU transfer of a non-UK business
  • Postponement relief
  • EU mergers
  • Other transfers

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for Tax?

Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This includes interpreting legislation relating to the EU as though the EU still included the UK and has an impact on this Practice Note. For further guidance, see Practice Note: Brexit—UK tax consequences.

The corporate intangibles tax rules contain a number of provisions for relief from tax on the transfer of a business or trade These reliefs are explained in this Practice Note.

For information on the specific rules that apply to transfers within a fixed assets group, see Practice Note: Transfers within an intangible fixed assets group and degrouping charges.

For information on the anti-avoidance rules that may apply when intangible fixed

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