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Taxation of Chargeable Gains Act 1992
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Changes over time for: Section 140B
Version Superseded: 29/11/2007
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- 06/04/1992- Amendment
- 06/04/2007
Point in time - 29/11/2007- Amendment
- 08/07/2008- Amendment
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Taxation of Chargeable Gains Act 1992, Section 140B is up to date with all changes known to be in force on or before 24 November 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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[F1140B Section 140A: anti-avoidance.U.K.
(1)Section 140A shall not apply unless the transfer of the trade or part is effected for bona fide commercial reasons and does not form part of a scheme or arrangements of which the main purpose, or one of the main purposes, is avoidance of liability to income tax, corporation tax or capital gains tax.
(2)Subsection (1) above shall not apply where, before the transfer, the Board have on the application of company A and company B notified those companies that the Board are satisfied that the transfer will be effected for bona fide commercial reasons and will not form part of any such scheme or arrangements as are mentioned in that subsection.
(3)Subsections (2) to (5) of section 138 shall have effect in relation to subsection (2) above as they have effect in relation to subsection (1) of that section.]
Textual Amendments
F1 S. 140B inserted (retrosp.) by 1992 c. 48, s.44
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