Section 198A — Taxation of Chargeable Gains Act 1992: Ring fence reinvestment: whole consideration reinvested

Ring fence reinvestment: whole consideration reinvested 198A 1 This section applies if a person (“P”) makes a disposal and acquisition which—

a is a ring fence reinvestment, and b qualifies for roll-over relief.

2 P may make a claim under this section in relation to the disposal and acquisition.

3 If P makes a claim under this section—

a section 152 does not apply to any of the disposal consideration, and b any gain accruing to P on the disposal is not a chargeable gain.

4 In this section “ disposal consideration ” means the whole of the consideration obtained on the disposal made by P.