Paragraph 6 I1I2
For the purposes of the Taxation of Chargeable Gains Act 1992, a disposal constituted by a transfer within sub-paragraph (2) is to be treated in relation to the transferor and transferee as made for a consideration such that no gain or loss accrues to the transferor.
A transfer is within this sub-paragraph if—
it is a transfer in accordance with a transfer scheme under section 190 of property, rights or liabilities of the Homes and Communities Agency and the transferee is a public body, or
it is in accordance with a transfer scheme under section 191 and the transferee is a public body.
In section 288(3A) of the Taxation of Chargeable Gains Act 1992 (meaning of the “no gain/no loss provisions”) at the end insert—
“(m)paragraph 6(1) of Schedule 24 to the Localism Act 2011.”
Annotations
Commencement
- I1
Sch. 24 in force for specified purposes at Royal Assent see s. 240(5)(o)
- I2
Sch. 24 para. 6 in force at 30.3.2012 for E.W. by S.I. 2012/628, art. 3(b)