Localism Act 2011, Cross Heading: Chargeable gains: disposal on transfer to be treated as no gain/no loss disposal is up to date with all changes known to be in force on or before 01 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.
6(1)For the purposes of the Taxation of Chargeable Gains Act 1992, a disposal constituted by a transfer within sub-paragraph (2) is to be treated in relation to the transferor and transferee as made for a consideration such that no gain or loss accrues to the transferor.U.K.
(2)A transfer is within this sub-paragraph if—
(a)it is a transfer in accordance with a transfer scheme under section 190 of property, rights or liabilities of the Homes and Communities Agency and the transferee is a public body, or
(b)it is in accordance with a transfer scheme under section 191 and the transferee is a public body.
(3)In section 288(3A) of the Taxation of Chargeable Gains Act 1992 (meaning of the “no gain/no loss provisions”) at the end insert—
“(m)paragraph 6(1) of Schedule 24 to the Localism Act 2011.”
Commencement Information
I1Sch. 24 in force for specified purposes at Royal Assent see s. 240(5)(o)
I2Sch. 24 para. 6 in force at 30.3.2012 for E.W. by S.I. 2012/628, art. 3(b)
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