Section 198B Ring fence reinvestment: part of consideration reinvestedF1

(1)

This section applies if a person (“P”) makes a disposal and acquisition which—

(a)

is a ring fence reinvestment, and

(b)

qualifies for section 153 relief.

(2)

P may make a claim under this section in relation to the disposal and acquisition.

(3)

If P makes a claim under this section—

(a)

section 153(1)(a) applies in relation to P and the disposal, but

(b)

section 153(1)(b) does not apply to P and the acquisition.

Annotations

F1: Ss. 198A-198G inserted (with effect in accordance with Sch. 40 para. 13 of the amending Act) by Finance Act 2009 (c. 10), Sch. 40 para. 12