Regulation 3 Chargeable gains: no gain or loss disposal

For the purposes of the Taxation of Chargeable Gains Act 1992^f1, a disposal constituted by a relevant transfer is to be treated in relation to ACo and BCo as being for a consideration such that neither a gain nor a loss accrues to the transferor.

For the purposes of any tax provision, paragraph (1) is to be treated as one of the no gain/no loss provisions in section 288(3A) of the Taxation of Chargeable Gains Act 1992^f2 (meaning of “the no gain/no loss provisions”).