Section 2F — Taxation of Chargeable Gains Act 1992: Interaction of capital gains tax and corporation tax

Interaction of capital gains tax and corporation tax 2F 1 This Act as it has effect in accordance with this Chapter is not to be affected in its operation by the fact that capital gains tax and corporation tax are distinct taxes.

2 But this Act is, so far as it is consistent with the Corporation Tax Acts, to apply in relation to capital gains tax and corporation tax on gains as if they were one tax.

3 Accordingly, a matter which in a case involving two individuals is relevant to both of them in relation to capital gains tax is in a similar case involving an individual and a company—

a relevant to the individual in relation to capital gains tax, and b relevant to the company in relation to corporation tax.