Part III Income Tax, Corporation Tax and Capital Gains Tax

Chapter II Taxation of Chargeable Gains

Pooling and identification of shares etc.

125 Indexation and share pooling etc.

1

In subsection (1) of section 110 of the M1Taxation of Chargeable Gains Act 1992 (indexation allowance for section 104 holdings), for “This" there shall be substituted “ For the purposes of corporation tax this ”.

F12

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F23

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4

Subject to subsection (5) below, the preceding provisions of this section have effect in relation to disposals on or after 6th April 1998.

5

This section does not affect the computation of the amount of so much of any gain as—

a

is treated for the purposes of the taxation of chargeable gains as having accrued on a disposal on or after 6th April 1998; but

b

is taken for those purposes to be equal to the whole or any part of a gain that—

i

would (but for any enactment relating to the taxation of chargeable gains) have accrued on an actual disposal made before that date, or

ii

would have accrued on a disposal assumed under any such enactment to have been made before that date.