21 Intangible fixed assets: transactions between related parties
Finance Act 2018 (2018 c 3) | Legislation

21  Intangible fixed assets: transactions between related parties

(1)     In section 844 of CTA 2009 (overview of Chapter 13 of Part 8: transactions between related parties) after subsection (2) insert—

“(2ZA)     Sections 849AB to 849AD make provision for the grant of a licence or other right by a company to a related party, or vice versa, to be treated as being at market value.”

(2)     After section 849A of that Act insert—

“Grants treated as being at market value

849AB Grant of licence or other right treated as at market value

(1)     This section applies if—

(a)     a company which holds an intangible asset grants a licence or other right in respect of the asset to a related party, or

(b)     a company is granted a licence or other right in respect of an intangible asset by a related party that holds the asset.

(2)     The grant of the licence or other right is treated for all purposes of the Taxes Acts as being at market value as respects the grantor if—

(a)     the licence or other right was actually granted at less than market value, and

(b)     condition A or B is met.

(3)     The grant

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