{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1970-repealed-641992/section-275",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1970-repealed-641992/section-275.json",
  "legislation": "ukpga/1970/10",
  "legislation_title": "Income and Corporation Taxes Act 1970 (repealed 6.4.1992)",
  "legislation_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1970-repealed-641992",
  "path": "section/275",
  "kind": "section",
  "number": "275",
  "heading": "Disposal or acquisition outside a group.",
  "text": "(1) Where there is a disposal of an asset acquired in relevant circumstances, section 34 of the Capital Gains Tax Act 1979 (restriction of losses by reference to capital allowances) shall apply in relation to capital allowances made to the person from which it was acquired (so far as not taken into account in relation to a disposal of the asset by that person), and so on as respects previous transfers of the asset in relevant circumstances.\n(1A) In subsection (1) above “relevant circumstances” means circumstances in which section 273 or 273A above applied or in which section 273 above would have applied but for subsection (2) of that section.\n(1B) Subsection (1) above shall not be taken as affecting the consideration for which an asset is deemed under section 273 or 273A to be acquired.\n(2) Schedule 5 to the Capital Gains Tax Act 1979 (assets acquired before 6th April 1965) shall apply in relation to a disposal of an asset by a company which is or has been a member of a group of companies, and which acquired the asset from another member of the group at a time when both were members of the group, as if all members of the group for the time being were the same person, and as if the acquisition or provision of the asset by the group, so taken as a single person, had been the acquisition or provision of it by the member disposing of it.\n(3) Subsection (2) above does not apply where the asset was acquired on a disposal within section 273(2)(c) above.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 275(1)–(1B) substituted for s. 275(1) by Finance Act 1990 (c. 29), s. 70(3) in relation to disposals on or after March 29th 1990."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words substituted by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 157(2), Sch. 7 para. 9 for 1979-80 et seq."
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 275(3) inserted by Finance Act 1980 (c. 448), s. 81(5) in relation to disposals after March 31st 1980."
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 272-281: definition of \"effective 51 percent. subsidiary\" applied (E.W.S.) by Ports Act 1991 (c. 52, SIF 58), s. 17(13)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "See Finance Act 1973 (c. 51), s. 38(5) and the application of ss. 273 to 275 and 278 to 279 in relation to certain disposals by non-resident companies of offshore exploration or exploitation rights; Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 16— ss. 273 to 275 and 276(1) to apply in relation to non-resident companies which are members of a non-resident group and Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 440(3), ss. 273, 274 not to apply to disposals or acquisitions of life assurance companies."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1970/10/section/275",
    "retrieved_at": "2026-10-29T10:51:30.085904+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}