{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-3/paragraph-1",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-3/paragraph-1.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "schedule/3/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "(1) For the purposes of corporation tax, where—\n(a) a person makes a disposal, not being a no gain/no loss disposal, of an asset which the person acquired after 31st March 1982, and\n(b) the disposal by which the person acquired the asset and any previous disposal of the asset after 31st March 1982 was a no gain/no loss disposal,\nthe person shall be treated for the purposes of section 35 as having held the asset on 31st March 1982.\n(2) For the purposes of this paragraph a no gain/no loss disposal is one on which by virtue of any of the no gain/no loss provisions or any of sections 195B, 195C or 195E neither a gain nor a loss accrues to the person making the disposal.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 3 para. 1(1) substituted (with effect in accordance with Sch. 2 para. 71 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 65(2)(a)(i)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 3 para. 1(1) substituted (with effect in accordance with Sch. 2 para. 71 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 65(2)(a)(ii)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 3 para. 1(2) substituted (with effect in accordance with Sch. 2 para. 71 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 65(2)(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. 3 para. 1(2) inserted (with effect in accordance with Sch. 40 para. 8 of the amending Act) by Finance Act 2009 (c. 10), Sch. 40 para. 7"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/3/paragraph/1",
    "retrieved_at": "2026-11-14T03:34:05.925206+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."
}