Section 46 Transfer of a trade: supplementary (1).

United Kingdom

(1)

The M1Taxation of Chargeable Gains Act 1992 shall have effect, and be deemed always to have had effect, with the following amendments.

F1(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

In section 116(11) (qualifying corporate bonds) after “139," there shall be inserted “ 140A, ”.

(4)

In section 140 (transfer of assets to non-resident company) the following subsection shall be inserted after subsection (6)—

“(6A)
No claim may be made under this section as regards a transfer in relation to which a claim is made under section 140C.”

(5)

In section 174 (disposal or acquisition outside a group)—

(a)

in subsection (2) after the word “section" (in the first place where it occurs) there shall be inserted “ 140A, ”;

(b)

in subsection (3) after “section" there shall be inserted “ 140A, ”.

(6)

In section 177(2) (dividend stripping) after “which section" there shall be inserted “ 140A, ”.

(7)

In section 184(2) (indexation)—

(a)

after the word “section" (in the first place where it occurs) there shall be inserted “ 140A, ”;

(b)

for “either" there shall be substituted “ one ”.

Annotations

F1: S. 46(2) omitted (21.7.2008) (with effect in accordance with Sch. 2 para. 71 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 70(a)(i)