Paragraph 3
England, Wales and Scotland
(1)
Where—
(a)
a held over gain would, but for the provisions of section F1154 of the 1992 Act, have beencarried forward to a depreciating asset; and
(b)
that asset is transferred by this Act to a successor company,
that section shall have effect as if the gain had accrued to, and the claim for it to be held oveer had been made by, that company.
(2)
In this paragraph the expressions which are used in the said section 154 have the same meanings as in that section.
Annotations
Textual amendments
- F1
Words in Sch. 11 para. 3 substituted (6.3.1992 with effect for the year 1992-93 and subsequent years of assessment) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch. 10 para. 20(2)