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Taxation of Chargeable Gains Act 1992

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Changes over time for: Cross Heading: Reinvestment of disposal proceeds

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Point in time view as at 26/05/2015.

Changes to legislation:

Taxation of Chargeable Gains Act 1992, Cross Heading: Reinvestment of disposal proceeds is up to date with all changes known to be in force on or before 07 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. Help about Changes to Legislation

[F1Reinvestment of disposal proceedsU.K.

Textual Amendments

F1Sch. 7C inserted (28.7.2000) by Finance Act 2000 (c. 17), s. 48(2), Sch. 9

3(1)This sub-paragraph applies if the claimant obtains consideration for the disposal and, at any time in the acquisition period, all of the amount or value of the consideration is applied by him in making an acquisition of assets or an interest in assets (“replacement assets”) which—U.K.

(a)are, immediately after the time of the acquisition, chargeable assets in relation to the claimant, and

(b)are not shares in, or debentures issued by, the relevant company or a company which is (at the time of the acquisition) in the same group as the relevant company;

but the preceding provisions of this sub-paragraph shall have effect without the words “, at any time in the acquisition period,” if the acquisition is made pursuant to an unconditional contract entered into in the acquisition period.

(2)This sub-paragraph applies if—

(a)sub-paragraph (1) would have applied but for the fact that part only of the amount or value mentioned in that sub-paragraph is applied as there mentioned, and

(b)all the amount or value so mentioned except for a part which is less than the amount of the gain (whether all chargeable gain or not) accruing on the disposal is so applied.

(3)In sub-paragraph (1)(b)—

  • “the relevant company” has the meaning given in paragraph 2(6); and

  • “group” shall be construed in accordance with section 170.]

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