{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-195D",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-195D.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": "section/195D",
  "kind": "section",
  "number": "195D",
  "heading": "Company that receives mixed consideration: N does not exceed C",
  "text": "(1) This section applies to a mixed-consideration swap if—\n(a) the no gain/no loss amount (“N”) of the company that receives the mixed consideration (“company R”) does not exceed\n(b) the amount of non-licence consideration (“C”) which company R receives.\n(2) As regards the licence, or each licence, which company R acquires, company R is to be treated as if it had acquired the licence for nil consideration.\n(3) In a case where company R disposes of only one licence, company R is to be treated as if, on the disposal of the licence, there had arisen a gain of—\nC-N\n(4) In a case where company R disposes of two or more licences, as regards each licence disposed of, company R is to be treated as if, on the disposal of the licence, there had arisen a gain of—\n(C-N)×DTDwhere—\nD is the value of the licence disposed of, and\nTD is total value of all the licences disposed of.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 195A-195E inserted (with effect in accordance with Sch. 40 para. 8 of the amending Act) by Finance Act 2009 (c. 10), Sch. 40 para. 5"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/section/195D",
    "retrieved_at": "2026-10-29T09:36:15.270072+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."
}