- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (24/05/2024)
- Gwreiddiol (Fel y'i Deddfwyd)
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Taxation of Chargeable Gains Act 1992, Section 218 is up to date with all changes known to be in force on or before 27 September 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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(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[F3, or in accordance with a requirement imposed under section 253 of the Housing and Regeneration Act 2008,], [F4the 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 [F4the Regulator of Social Housing] has so acquired from a housing association all the land so held by it [F5the 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 [F4the 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 [F4the Regulator of Social Housing], assets acquired by [F5the Regulator] in accordance with the same scheme as that land, and in relation to a disposal of land by [F4the Regulator of Social Housing], assets held by [F5the Regulator] for the purposes of the same scheme as that land.
(3)This section shall also have effect with the substitution of the words [F6“the Secretary of State”] for the words “[F4the Regulator of Social Housing]” and “[F5the 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 “[F4the Regulator of Social Housing]” and “[F5the Regulator]” in each place where they occur.
Textual Amendments
F1Words 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.)
F2Words 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
F3Words 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.)
F4Words 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.)
F5Words 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.)
F6Words 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)
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