Taxation of Chargeable Gains Act 1992

[F1 Person to whom held-over gain is treated as accruing U.K.

Textual Amendments

F1 Sch. 8B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 12 para. 3

7 (1) This paragraph applies where a chargeable gain is treated as accruing as a result of the operation of paragraph 5. U.K.

(2) If the chargeable event is a disposal, that chargeable gain is treated as accruing to the person who makes the disposal.

(3) If the chargeable event occurs—

(a) when an asset, or part of an asset, is cancelled, extinguished, redeemed or repaid, or

(b) when a condition, for eligibility for relief in respect of the consideration given for the acquisition of an asset, fails to be met,

that chargeable gain is treated as accruing to the person who holds the asset, or part, when the chargeable event occurs.]