Overview

Where a company leaves a group as a result of a disposal of shares by a member of that group on or after 19 July 2011 then the usual consequence of a deemed disposal of the transferred asset by company A does not apply. Instead of the deemed disposal giving rise to a chargeable gain (or allowable loss) in the company that acquired the asset, the amount of any gain (or loss) calculated by reference to the deemed disposal accrues to the group company making the disposal of shares, TCGA92/S179(3A) to (3E).

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