TCGA92/SCH3/PARA1

TCGA92/S55 (5)

TCGA92/SCH3/PARA1 applies to specified no gain/no loss disposals and enables the transferee to benefit from rebasing. This rule continues to apply for both capital gains tax and corporation tax purposes. Note that for disposals from 6 April 2008 rebasing applies automatically for capital gains tax and that the ‘kink test’ (see CG16730+) and market value election (see CG16760+) provisions now apply only to companies.

The rule applies where -

the person making the disposal (not being a no gain/no loss disposal) did not hold the asset on 31 March 1982, and

every other disposal of the asset since that date was a no gain/no loss disposal.

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.