On the disposal of an asset outside the group (including where the asset being disposed of has previously been acquired by way of an intra-group transfer), the chargeable gain or allowable loss arising in respect of that asset accrues to the company making the disposal. However, it is possible for such chargeable gains and allowable losses to be transferred (by way of election) within a group.

Circumstances in which an election can be made

An election under TCGA 1992, s. 171A can only be made where:

(1)a chargeable gain or an allowable loss accrues on or after 21 July 2009 to a company (Company A) in respect of an asset (or would do so but for the election);

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.