Taxation of Chargeable Gains Act 1992

[F1 151F Treatment of alternative finance arrangements U.K.

(1) This section applies if under arrangements to which section 503 (purchase and resale arrangements), 504 (diminishing shared ownership arrangements) or 507 (investment bond arrangements) of CTA 2009 applies an asset is sold by one party to the arrangements to the other party.

(2) The alternative finance return (as defined in section 511, 512 or 513(3) of that Act, as the case may be) is excluded in determining for the purposes of this Act the consideration for the sale and purchase of the asset.

(3) This section does not affect the operation of any provision of this Act [F2 or the Tax Acts] which provides that the consideration for a sale or purchase is to be taken for any purpose to be an amount other than the actual consideration.]

Textual Amendments

F1 Ss. 151E-151G inserted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 370 (with Sch. 2 Pts. 1, 2)

F2 Words in s. 151F(3) inserted (retrospective and with effect in accordance with art. 1(2)(a)(b) of the amending S.I.) by The Corporation Tax Act 2009 (Amendment) Order 2009 (S.I. 2009/2860), arts. 1(2), 4

Modifications etc. (not altering text)

C1 S. 151F: power to amend conferred (with effect in accordance with s. 1329(1) of the affecting Act) by Corporation Tax Act 2009 (c. 4), ss. 521, 1329(1) (with Sch. 2 Pts. 1, 2, Sch. 2 paras. 73-75)