Section 35

Cross references

SI 1992/58, Sch. 2, para. 13: disapplication of Sch. 3 in relation to reorganisation of port authorities.


PREVIOUS NO GAIN/NO LOSS DISPOSALS

Related Commentary  Related HMRC Manuals

1(1)  For the purposes of corporation tax, where–

(a)a person makes a disposal, not being a no gain/no loss disposal, of an asset which the person acquired after 31st March 1982, and

(b)the disposal by which the person acquired the asset and any previous disposal of the asset after 31st March 1982 was a no gain/no loss disposal,

the person shall be treated for the purposes of section 35 as having held the asset on 31st March 1982.

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