Point in time view as at 15/09/2016.
Taxation of Chargeable Gains Act 1992, Paragraph 12 is up to date with all changes known to be in force on or before 10 March 2025. 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.
[F112U.K.For the purposes of this Schedule, and without prejudice to paragraph 11 above, where—
(a)a company which is a member of a group of companies becomes at any time a member of another group of companies as the result of a disposal of shares in or other securities of that company or any other company; and
(b)that disposal is one on which, by virtue of any [F2of the no gain/no loss provisions], neither a gain nor a loss would accrue,
this Schedule shall have effect in relation to the losses that accrued to that company before that time and the assets held by that company at that time as if any time when it was a member of the first group were included in the period during which it is treated as having been a member of the second group.]
Textual Amendments
F1Sch. 7A inserted (27.7.1993 with effect as mentioned in s. 88(3) of the amending Act) by 1993 c. 34, c. 88(2), Sch. 8
F2Words in Sch. 7A para. 12(b) substituted (with effect in accordance with Sch. 2 para. 71 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 68
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