TCGA92/S179 (3)

Generally the event which triggers a degrouping charge is a company ceasing to be a member of a group owning an asset acquired from another group member within the previous six years.

FA2000/SCH29/PARA1 changed the definition of a group to include companies not resident in the UK (CG45120) and as a consequence where the transfer of the asset which may give rise to a degrouping charge takes place on or after 1 April 2000, a degrouping charge will arise only if the asset was within the charge to Corporation Tax on chargeable gains (CG45301) immediately before and after the transfer.

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