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Taxation of Chargeable Gains Act 1992
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Taxation of Chargeable Gains Act 1992, Section 74 is up to date with all changes known to be in force on or before 25 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.
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Changes and effects yet to be applied to Section 74:
- Act applied by 2002 c. 23 Sch. 16 para. 48(1)(2)
- s. 4(10)(11) inserted by 2016 c. 11 s. 15(4)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
- Act applied by 2002 c. 23 Sch. 16 para. 48(1)(2)
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 4(10)(11) inserted by 2016 c. 11 s. 15(4)
74 Effect on sections 72 and 73 of relief under section 165 or 260.U.K.
(1)This section applies where—
(a)a claim for relief was made under section 165 or 260 in respect of the disposal of an asset to a trustee, and
(b)the trustee is deemed to have disposed of the asset, or part of it, by virtue of section 71(1) or 72(1)(a).
(2)Sections 72(1)(b) and 73(1)(a) shall not apply to the disposal of the asset or part by the trustee, but any chargeable gain accruing to the trustee on the disposal shall be restricted to the amount of the held-over gain (or a corresponding part of it) on the disposal of the asset to him.
(3)Subsection (2) above shall not have effect in a case within section 73(2) but in such a case the reduction provided for by section 73(2) shall be diminished by an amount equal to the proportion there mentioned of the held-over gain.
(4)In this section “held-over gain” has the same meaning as in section 165 or, as the case may be, 260.
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