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Taxation of Chargeable Gains Act 1992

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Changes over time for: Section 195D

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Changes to legislation:

Taxation of Chargeable Gains Act 1992, Section 195D is up to date with all changes known to be in force on or before 28 February 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

[F1195DCompany that receives mixed consideration: N does not exceed CU.K.

(1)This section applies to a mixed-consideration swap if—

(a)the no gain/no loss amount (“N”) of the company that receives the mixed consideration (“company R”) does not exceed

(b)the amount of non-licence consideration (“C”) which company R receives.

(2)As regards the licence, or each licence, which company R acquires, company R is to be treated as if it had acquired the licence for nil consideration.

(3)In a case where company R disposes of only one licence, company R is to be treated as if, on the disposal of the licence, there had arisen a gain of—

(4)In a case where company R disposes of two or more licences, as regards each licence disposed of, company R is to be treated as if, on the disposal of the licence, there had arisen a gain of—

where—

D is the value of the licence disposed of, and

TD is total value of all the licences disposed of.]

Textual Amendments

F1Ss. 195A-195E inserted (with effect in accordance with Sch. 40 para. 8 of the amending Act) by Finance Act 2009 (c. 10), Sch. 40 para. 5

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