Finance Act 2000 (c. 17)

SCHEDULES

SCHEDULE 29 U.K. Chargeable gains: non-resident companies and groups etc.

Part II U.K. Minor and consequential amendments

Section 31A of the M1 Taxation of Chargeable Gains Act 1992 U.K.

Marginal Citations

M1 1992 c. 12.

17 (1) Section 31A of the Taxation of Chargeable Gains Act 1992 (asset-holding company leaving a group of companies) is amended as follows. U.K.

(2) In subsection (9)(b) for “the principal company of that group" substitute—

“any other company which—

(i) is a member of that group immediately before that event, and

(ii) is designated as the chargeable company for the purposes of this section in a notice served on the company by an officer of the Board.”

(3) After subsection (10) add—

“(11) Where a notice is served on a company under subsection (9)(b) above, the Inland Revenue may make an assessment to tax in the amount which in their opinion ought to be charged under this section.”

(4) The above amendments, and the main amendments so far as they apply for the purposes of sections 30 to 34 of that Act, have effect in relation to disposals on or after 1st April 2000.