Taxation of Chargeable Gains Act 1992

Sections and provisions with full text and the judgments that cite each one.

Section 198F — Qualification for roll-over relief

Qualification for roll-over relief 198F 1 This section applies for the purposes of sections 198A and 198B and section 198G. 2 A disposal and acquisition qualifies for roll-over relief if— a the…

Section 198G — Qualification for section 153 relief

Qualification for section 153 relief 198G 1 This section applies for the purposes of sections 198B and 198C. 2 A disposal and acquisition qualifies for section 153 relief if— a section 153(1) applies…

Section 198H — Acquisition by member of same group

Acquisition by member of same group 198H Section 198A or 198B is to apply where— a the disposal is by a company which, at the time of the disposal, is a member of a group of companies (within the…

Section 198I — Exploration, appraisal and development expenditure

Exploration, appraisal and development expenditure 198I 1 The incurring of exploration, appraisal and development expenditure in the course of a ring fence trade is to be treated for the purposes of…

Section 198J — Oil and gas: reinvestment after pre-trading disposal

Oil and gas: reinvestment after pre-trading disposal 198J 1 This section applies if a company which is an E&A company makes a disposal of, or of the company's interest in, relevant E&A assets and…

Section 198K — Provisional application of section 198J

Provisional application of section 198J 198K 1 This section applies where a company for a consideration disposes of, or of an interest in, any assets at a time when it is an E&A company and declares,…

Section 198L — Expenditure by member of same group

Expenditure by member of same group 198L 1 Section 198J applies where— a the disposal is by a company which, at the time of the disposal, is a member of a group of companies (within the meaning of…

Section 199 — Exploration or exploitation assets: deemed disposals

Exploration or exploitation assets: deemed disposals 199 1 Where an exploration or exploitation asset which is a mobile asset ceases to be chargeable in relation to a person by virtue of ceasing to…

Section 200 — Limitation of losses on disposal of oil industry assets held on 31st March 1982.

Limitation of losses on disposal of oil industry assets held on 31st March 1982. 200 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 201 — Royalties.

Royalties. 201 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 202 — Capital losses.

Capital losses. 202 1 This section has effect in relation to capital losses which accrue during the currency of a mineral lease or agreement entered into before the relevant date , and applies in any…

Section 203 — Provisions supplementary to section 202 .

Provisions supplementary to section 202 . 203 1 Sections 274 to 276 of CTA 2009 (meaning of “mineral royalties” etc) apply for the interpretation of this section and section 202 (despite their repeal…

Section 204 — Policies of insurance and non-deferred annuities

Policies of insurance and non-deferred annuities 204 1 A gain accruing on a disposal of, or of an interest in, the rights conferred by a non-life policy of insurance is not a chargeable gain (but see…

Section 205 — Disallowance of insurance premiums as expenses.

Disallowance of insurance premiums as expenses. 205 Without prejudice to the provisions of section 39, there shall be excluded from the sums allowable as a deduction in the computation of the gain…

Section 206 — . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206

Section 207 — . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207

Section 208 — . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 208

Section 209 — . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 209

Section 210 — Life assurance and deferred annuities.

Life assurance and deferred annuities. 210 1 This section has effect in relation to any policy of insurance or contract for a deferred annuity on the life of any person. 2 A gain accruing on a…

Section 210A — Ring-fencing of losses

Ring-fencing of losses 210A 1 Section 2A(1) has effect in relation to insurance companies subject to the provisions of this section. 2 Non-BLAGAB allowable losses accruing to an insurance company are…

Section 210B — Disposal and acquisition of section 119 or 120 securities

Disposal and acquisition of section 119 or 120 securities 210B 1 Subsections (2) to (4) below apply in a case where, within a period of 10 days, an insurance company disposes of a number of section…

Section 210C — Losses on disposal of authorised investment fund assets to connected manager

Losses on disposal of authorised investment fund assets to connected manager 210C 1 Section 18(3) does not apply in relation to a loss accruing on the disposal by an insurance company of authorised…

Section 211 — Transfers of business.

Transfers of business. 211 1 This section applies where an insurance business transfer scheme has effect to transfer business which consists of the effecting or carrying out of contracts of long-term…

Section 211A — Gains of insurance company from venture capital investment partnership

Gains of insurance company from venture capital investment partnership 211A Schedule 7AD to this Act has effect with respect to the gains of an insurance company from a venture capital investment…

Section 211ZA — Transfers of business: transfer of unused losses

Transfers of business: transfer of unused losses 211ZA 1 This section applies where— a an insurance business transfer scheme has effect to transfer business consisting of or including basic life…

Section 211B — Transfers of assets to certain collective investment schemes

Transfers of assets to certain collective investment schemes 211B 1 Subsection (2) applies if— a an asset of an insurance company is made subject to a collective investment scheme which is— i an…

Section 212 — Annual deemed disposal of holdings of unit trusts etc.

Annual deemed disposal of holdings of unit trusts etc. 212 1 Where at the end of an accounting period the assets held by an insurance company for the purposes of its long-term business include— a…

Section 213 — Spreading of gains and losses under section 212.

Spreading of gains and losses under section 212. 213 1 Any chargeable gains or allowable losses which would otherwise accrue on disposals deemed by virtue of section 212 to have been made at the end…

Section 213A — Power to modify ss. 212 and 213 etc in case of CFCs that are offshore funds

Power to modify ss. 212 and 213 etc in case of CFCs that are offshore funds 213A 1 The Treasury may make regulations for the purpose mentioned in subsection (2) in any case where— a an insurance…

Section 214 — Transitional provisions.

Transitional provisions. 214 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 214A — Further transitional provisions.

Further transitional provisions. 214A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 214BA — Interpretation

Interpretation 214BA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 214B — Modification of Act in relation to overseas life insurance companies.

Modification of Act in relation to overseas life insurance companies. 214B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 214C — Gains not eligible for taper relief.

Gains not eligible for taper relief. 214C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 215 — Disposal of assets on amalgamation of building societies etc.

Disposal of assets on amalgamation of building societies etc. 215 If, in the course of or as part of an amalgamation of 2 or more building societies or a transfer of engagements from one building…

Section 216 — Assets transferred from society to company.

Assets transferred from society to company. 216 1 This section and section 217 apply where there is a transfer of the whole of a building society’s business to a company (“ the successor company ”)…

Section 217 — Shares, and rights to shares, in successor company.

Shares, and rights to shares, in successor company. 217 1 Where, in connection with the transfer, there are conferred on members of the society— a any rights to acquire shares in the successor…

Section 217A — Transfer of assets on incorporation of registered friendly society.

Transfer of assets on incorporation of registered friendly society. 217A 1 This section and section 217B apply where a registered friendly society is incorporated under the Friendly Societies Act…

Section 217B — Rights of members in registered society equated with rights in incorporated society.

Rights of members in registered society equated with rights in incorporated society. 217B 1 In this section, “ change of membership ” means a change effected by Schedule 4 to the 1992 Act whereby a…

Section 217C — Subsequent disposal of assets by incorporated society etc.

Subsequent disposal of assets by incorporated society etc. 217C 1 Where any asset acquired on a disposal to which section 217A(3) applies is subsequently disposed of by the incorporated society,…

Section 217D — Disposal of assets on union, amalgamation or transfer of engagements

Disposal of assets on union, amalgamation or transfer of engagements 217D 1 Subsection (2) applies if— a there is a union or amalgamation of two or more relevant bodies or a transfer of engagements…

Section 218 — Disposals of land between the Regulator of Social Housing, the Secretary of State or Scottish Homes and housing associations.

Disposals of land between the Regulator of Social Housing, the Secretary of State or Scottish Homes and housing associations. 218 1 Where— a in accordance with a scheme approved under section 5 of…