Related Commentary  Related HMRC Manuals

215  If, in the course of or as part of an amalgamation of 2 or more building societies or a transfer of engagements from one building society to another, there is a disposal of an asset by one society to another, both shall be treated for the purposes of corporation tax on chargeable gains as if the asset were acquired from the one making the disposal for a consideration of such amount as would secure that on the disposal neither a gain nor a loss would accrue to the one making the disposal.


CGTA 1979, s. 149A(1), as inserted by ICTA 1988, s. 844 and Sch. 29, para. 26.

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