Related Commentary  Related CasesRelated HMRC Manuals

153A(1)  This section applies where a person carrying on a trade who for a consideration disposes of, or of his interest in, any assets (“the old assets”) declares, in his return for the chargeable period in which the disposal takes place–

(a)that the whole or any specified part of the consideration will be applied in the acquisition of, or of an interest in, other assets (“the new assets”) which on the acquisition will be taken into use, and used only, for the purposes of the trade;

(b)that the acquisition will take place as mentioned in subsection (3) of section 152; and

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