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Taxation of Chargeable Gains Act 1992, Section 33A is up to date with all changes known to be in force on or before 05 September 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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(1)Sections 30 to 33 have effect in relation to a chargeable intangible asset subject to the following modifications.
In this section “chargeable intangible asset” has the same meaning as in [F2Part 8 of CTA 2009].
(2)Any reference in those sections—
(a)to a disposal or part disposal of the asset shall be read as a reference to its realisation or part realisation within the meaning of [F3that Part (see section 734 of that Act]);
(b)to an disposal of the asset under section 171(1) shall be read as a reference to its transfer under [F4section 775 of that Act] (transfers within a group);
(c)to a disposal of the asset under section 179 shall be read as a reference to its realisation under [F5section 780 or 785 of that Act] (degrouping).
(3)In section 31(6), paragraph (c) shall not apply to a revaluation where the profit on the revaluation is wholly taken into account as a credit under [F6that Part (see section 723 of that Act]).
(4)None of the conditions in section 31(9) shall be treated as satisfied if the asset with enhanced value is a chargeable intangible asset within the meaning of [F7that Part].
(5)The reference in section 32(2)(b) to the cost of the underlying asset shall be read, in the case of a chargeable intangible asset, as a reference to the capitalised value of the asset recognised for accounting purposes.]
Textual Amendments
F1S. 33A inserted (24.7.2002) by Finance Act 2002 (c. 23), Sch. 30 para. 6
F2Words in s. 33A(1) substituted (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. 361(a) (with Sch. 2 Pts. 1, 2)
F3Words in s. 33A(2)(a) substituted (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. 361(b)(i) (with Sch. 2 Pts. 1, 2)
F4Words in s. 33A(2)(b) substituted (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. 361(b)(ii) (with Sch. 2 Pts. 1, 2)
F5Words in s. 33A(2)(c) substituted (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. 361(b)(iii) (with Sch. 2 Pts. 1, 2)
F6Words in s. 33A(3) substituted (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. 361(c) (with Sch. 2 Pts. 1, 2)
F7Words in s. 33A(4) substituted (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. 361(d) (with Sch. 2 Pts. 1, 2)
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