Version Superseded: 01/07/2012
Point in time view as at 19/07/2011.
Finance Act 2009, Cross Heading: Relief from taxation of capital gains: second transaction 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.
12(1)The second transaction is not to be regarded for the purposes of TCGA 1992 as an acquisition by P or a disposal by Q if—U.K.
(a)each of conditions A to C and E to G is met, and
(b)in the case of an interest in land in the United Kingdom, condition D is met.
(2)Where the interest in the land is replaced as the bond asset by an interest in other land, this paragraph is subject to paragraph 18.
(3)This paragraph is also subject to paragraph 20.
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