Version Superseded: 27/07/1993
Point in time view as at 06/04/1992. This version of this provision has been superseded.
Taxation of Chargeable Gains Act 1992, Section 157 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.
In relation to a case where—
(a)the person disposing of, or of his interest in, the old assets and acquiring the new assets, or an interest in them, is an individual, and
(b)the trade or trades in question are carried on not by that individual but by a company which, both at the time of the disposal and at the time of the acquisition referred to in paragraph (a) above, is his family company, within the meaning of Schedule 6,
any reference in sections 152 to 156 to the person carrying on the trade (or the 2 or more trades) includes a reference to that individual.
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