Part 4: Income tax, corporation tax and capital gains tax Section 42: Transfer of intangible assets not at arm's length Summary
This section amends the legislation that applies when intangible fixed assets need to be valued for tax purposes when they are transferred between related parties. It ensures that where transfer pricing applies, there can also be a further adjustment if necessary to ensure that the full market value of the asset is brought into account for tax purposes. The change applies to a transfer of intangible assets made on or after 8 July 2015. Related changes are made by sections 40and 41.