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Taxation of Chargeable Gains Act 1992, Cross Heading: The Regulator of Social Housing, the Secretary of State and housing associations is up to date with all changes known to be in force on or before 15 July 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
Textual Amendments
F1Words in s. 218 cross-heading substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 17(5); S.I. 2010/862, art. 2 (with Sch.)
F2Words in s. 218 cross-heading substituted (1.11.1998) by Government of Wales Act 1998 (c. 38), ss. 140, 158(1), Sch. 16 para. 80; S.I. 1998/2244, art. 5
(1)Where—
(a)in accordance with a scheme approved under section 5 of the M1Housing Act 1964 or paragraph 5 of Schedule 7 to the M2Housing Associations Act 1985[F5, or in accordance with a requirement imposed under section 253 of the Housing and Regeneration Act 2008,], [F6the Regulator of Social Housing] acquires from a housing association the association’s interest in all the land held by the association for carrying out its objects, or
(b)after [F6the Regulator of Social Housing] has so acquired from a housing association all the land so held by it [F7the Regulator] disposes to a single housing association of the whole of that land (except any part previously disposed of or agreed to be disposed of otherwise than to a housing association), together with all related assets,
then both parties to the disposal of the land to or, as the case may be, by [F6the Regulator of Social Housing] shall be treated for the purposes of corporation tax in respect of chargeable gains as if the land and any related assets disposed of therewith (and each part of that land and those assets) were acquired from the party making the disposal for a consideration of such an amount as would secure that on the disposal neither a gain nor a loss accrued to that party.
(2)In subsection (1) above, “housing association” has the same meaning as in the M3Housing Associations Act 1985, and “ ” means, in relation to an acquisition of land by [F6the Regulator of Social Housing], assets acquired by [F7the Regulator] in accordance with the same scheme as that land, and in relation to a disposal of land by [F6the Regulator of Social Housing], assets held by [F7the Regulator] for the purposes of the same scheme as that land.
(3)This section shall also have effect with the substitution of the words [F8“the Secretary of State”] for the words “[F6the Regulator of Social Housing]” and “[F7the Regulator]” in each place where they occur.
(4)This section shall also have effect with the substitution of the words “ Scottish Homes ” for the words “[F6the Regulator of Social Housing]” and “[F7the Regulator]” in each place where they occur.
Textual Amendments
F3Words in s. 218 heading substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 17(5); S.I. 2010/862, art. 2 (with Sch.)
F4Words in s. 218 heading substituted (1.11.1998) by Government of Wales Act 1998 (c. 38), ss. 140, 158(1), Sch. 16 para. 80; S.I. 1998/2244, art. 5
F5Words in s. 218(1)(a) inserted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 17(4); S.I. 2010/862, art. 2 (with Sch.)
F6Words in s. 218 substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 17(2); S.I. 2010/862, art. 2 (with Sch.)
F7Words in s. 218 substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 17(3); S.I. 2010/862, art. 2 (with Sch.)
F8Words in s. 218(3) substituted (1.11.1998) by Government of Wales Act 1998 (c. 38), ss. 140, 158(1), Sch. 16 para. 78; S.I. 1998/2244, art. 5
Modifications etc. (not altering text)
C1S. 218 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 1 (with art. 6)
Marginal Citations
(1)In any case where—
(a)[F11a housing regulator] [F12or the Homes and Communities Agency] disposes of any land to a [F13relevant housing provider], or
(b)a [F13relevant housing provider] disposes of any land to another [F13relevant housing provider], or
(c)in pursuance of a direction of [F14a housing regulator] given under [F15section 167 of the Housing and Regeneration Act 2008[F16, section 106 of the Housing (Scotland) Act 2010],] Part I of the Housing Act 1996 or Part I of the Housing Associations Act 1985 (as the case may be) requiring it to do so, a [F13relevant housing provider] disposes of any of its property, other than land, to another [F13relevant housing provider], or
(d)a [F13relevant housing provider] or an unregistered self-build society disposes of any land to [F17a housing regulator][F18, the Homes and Communities Agency or the Greater London Authority],
both parties to the disposal shall be treated for the purposes of tax on chargeable gains as if the land or property disposed of were acquired from [F19the housing regulator][F20, the Homes and Communities Agency], [F13relevant housing provider] or unregistered self-build society making the disposal for a consideration of such an amount as would secure that on the disposal neither a gain nor a loss accrued to [F19the housing regulator][F21, the Homes and Communities Agency] or, as the case may be, that [F13relevant housing provider] or society.
(2)In this section—
[F22“housing regulator” means the Regulator of Social Housing][F23, the Scottish Housing Regulator], [F24the Secretary of State] or Scottish Homes;
[F25“relevant housing provider” means—
a non-profit registered provider of social housing,
a registered social landlord within the meaning of Part 1 of the Housing Act 1996, or
a body registered in the register maintained under [F26section 20(1) of the Housing (Scotland) Act 2010].]
“unregistered self-build society” has the same meaning as in the Housing Associations Act 1985.]
Textual Amendments
F9S. 219 heading substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(4); S.I. 2010/862, art. 2 (with Sch.)
F10S. 219 substituted (1.10.1996) by The Housing Act 1996 (Consequential Provisions) Order 1996 (S.I. 1996/2325), art. 1(2), Sch. 2 para. 20(2)
F11Words in s. 219(1)(a) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(2)(a); S.I. 2010/862, art. 2 (with Sch.)
F12Words in s. 219(1)(a) inserted (1.12.2008) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 8 para. 62(a); S.I. 2008/3068, art. 2(1)(w)(3) (with arts. 6-13)
F13Words in s. 219(1) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(2)(b); S.I. 2010/862, art. 2 (with Sch.)
F14Words in s. 219(1)(c) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(2)(a); S.I. 2010/862, art. 2 (with Sch.)
F15Words in s. 219(1)(c) inserted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(2)(c); S.I. 2010/862, art. 2 (with Sch.)
F16Words in s. 219(1)(c) inserted (1.4.2012) by The Housing (Scotland) Act 2010 (Consequential Provisions and Modifications) Order 2012 (S.I. 2012/700), art. 1(3), Sch. para. 4(2)
F17Words in s. 219(1)(d) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(2)(a); S.I. 2010/862, art. 2 (with Sch.)
F18Words in s. 219(1)(d) substituted (1.4.2012) by Localism Act 2011 (c. 20), s. 240(2), Sch. 19 para. 32; S.I. 2012/628, art. 6(i) (with arts. 9, 11, 14, 15, 17)
F19Words in s. 219(1) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(2)(d); S.I. 2010/862, art. 2 (with Sch.)
F20Words in s. 219(1) inserted (1.12.2008) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 8 para. 62(c)(i); S.I. 2008/3068, art. 2(1)(w)(3) (with arts. 6-13)
F21Words in s. 219(1) inserted (1.12.2008) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 8 para. 62(c)(ii); S.I. 2008/3068, art. 2(1)(w)(3) (with arts. 6-13)
F22Words in s. 219(2) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(3)(a); S.I. 2010/862, art. 2 (with Sch.)
F23Words in s. 219(2) inserted (1.4.2012) by The Housing (Scotland) Act 2010 (Consequential Provisions and Modifications) Order 2012 (S.I. 2012/700), art. 1(3), Sch. para. 4(3)(a)
F24Words in s. 219(2) substituted (1.11.1998) by virtue of Government of Wales Act 1998 (c. 38), ss. 140, 158(1), Sch. 16 para. 79; S.I. 1998/2244, art. 5
F25Words in s. 219(2) substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 9 para. 18(3)(b); S.I. 2010/862, art. 2 (with Sch.)
F26Words in s. 219(2) substituted (1.4.2012) by The Housing (Scotland) Act 2010 (Consequential Provisions and Modifications) Order 2012 (S.I. 2012/700), art. 1(3), Sch. para. 4(3)(b)
Modifications etc. (not altering text)
C2S. 219 modified (E.W.) (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 1 (with art. 6)
(1)In any case where—
(a)a registered Northern Ireland housing association disposes of any land to another such association, or
(b)in pursuance of a direction of the Department of the Environment for Northern Ireland given under Chapter II of Part VII of the M4Housing (Northern Ireland) Order 1981 requiring it to do so, a registered Northern Ireland housing association disposes of any of its property, other than land, to another such association,
both parties to the disposal shall be treated for the purposes of tax on chargeable gains as if the land or property disposed of were acquired from the association making the disposal for a consideration of such an amount as would secure that on the disposal neither a gain nor a loss accrued to that association.
(2)In subsection (1) above “registered Northern Ireland housing association” means a registered housing association within the meaning of Part VII of the Order referred to in paragraph (b) of that subsection.
Marginal Citations
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