Applying in relation to relevant transactions occurring from 6 April 2008 to 22 June 2010. See CG64161 below for exchanges that took place on or after 23 June 2010.
This section applies where there is an exchange of shares or securities for qualifying corporate bonds (QCBs). Gains on QCBs are not chargeable to CGT, and there are special rules (in section 116 of the TCGA) for exchanges of this type – see CG53820+. Under these rules TCGA92/S116 (5) disapplies the effect of TCGA92/S127 to TCGA92/S130 so no election under TCGA92/S169Q can be made in these circumstances because you cannot elect to disapply a section which would not have applied anyway.
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