Taxation of Chargeable Gains Act 1992
Sections and provisions with full text and the judgments that cite each one.
Section 239 — Disposals to trustees of employee trusts
Disposals to trustees of employee trusts 239 1 Where— a a close company disposes of an asset to trustees in circumstances such that the disposal is a disposition which by virtue of section 13 of the…
Section 239A — De-registration of registered pension schemes
De-registration of registered pension schemes 239A 1 This section applies where tax is charged in accordance with section 242 of the Finance Act 2004 (de-registration charge) where the registration…
Section 239ZA — Relief for disposals by trustees of employee trusts
Relief for disposals by trustees of employee trusts 239ZA 1 Any gain accruing to trustees on the disposal of an asset comprised in the settled property of an employee trust shall not be a chargeable…
Section 240 — Leases of land and other assets.
Leases of land and other assets. 240 Schedule 8 shall have effect as respects leases of land and, to the extent specified in paragraph 9 of that Schedule, as respects leases of property other than…
Section 241 — UK furnished holiday lettings.
UK furnished holiday lettings. 241 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 241A — EEA furnished holiday lettings
EEA furnished holiday lettings 241A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 242 — Small part disposals.
Small part disposals. 242 1 This section applies to a transfer of land forming part only of a holding of land, where— a the amount or value of the consideration for the transfer does not exceed…
Section 243 — Part disposal to authority with compulsory powers.
Part disposal to authority with compulsory powers. 243 1 This section applies to a transfer of land forming part only of a holding of land to an authority exercising or having compulsory powers…
Section 244 — Part disposal: consideration exceeding allowable expenditure.
Part disposal: consideration exceeding allowable expenditure. 244 1 The provisions of sections 242(2) and 243(2) shall have effect subject to this section. 2 Where the allowable expenditure is less…
Section 245 — Compensation paid on compulsory acquisition.
Compensation paid on compulsory acquisition. 245 1 Where land or an interest in or right over land is acquired and the acquisition is, or could have been, made under compulsory powers, then in…
Section 246 — Time of disposal and acquisition.
Time of disposal and acquisition. 246 Where an interest in land is acquired, otherwise than under a contract, by an authority possessing compulsory purchase powers, the time at which the disposal and…
Section 247 — Roll-over relief on compulsory acquisition.
Roll-over relief on compulsory acquisition. 247 1 This section applies where— a land (“ the old land ”) is disposed of by any person (“ the landowner ”) to an authority exercising or having…
Section 247A — Provisional application of section 247.
Provisional application of section 247. 247A 1 This section applies where a person who disposes of land (“the old land”) to an authority exercising or having compulsory powers declares, in his return…
Section 248 — Provisions supplementary to section 247.
Provisions supplementary to section 247. 248 1 Land is excluded from paragraph (c) of subsection (1) of section 247 if— a it is a dwelling-house or part of a dwelling-house (or an interest in or…
Section 248A — Roll-over relief on disposal of joint interests in land: conditions
Roll-over relief on disposal of joint interests in land: conditions 248A 1 Section 248B applies where conditions A to E are met. 2 Condition A is that a person (“the landowner”) and one or more other…
Section 248B — Calculation of relief
Calculation of relief 248B 1 If the amount or value of the consideration for the disposal of the relinquished interest is equal to or less than the amount or value of the consideration for the…
Section 248C — Excluded land
Excluded land 248C 1 Land is excluded land to the extent that— a it is a dwelling-house or part of a dwelling-house (or an interest in or right over a dwelling-house), and b by virtue of, or of any…
Section 248D — Milk quotas
Milk quotas 248D 1 This section applies where— a section 248B applies to a holding (or holdings) of land, and b milk quota is associated with the holding in which the relinquished interest is held…
Section 248E — Relief on disposal of joint interests in private residence
Relief on disposal of joint interests in private residence 248E 1 This section applies where conditions A to E are met. 2 Condition A is that a person (“the landowner”) and one or more other persons…
Section 249 — Grants for giving up agricultural land.
Grants for giving up agricultural land. 249 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 250 — Woodlands.
Woodlands. 250 1 Consideration for the disposal of trees standing or felled or cut on woodlands managed by the occupier on a commercial basis and with a view to the realisation of profits shall be…
Section 251 — General provisions.
General provisions. 251 1 Where a person incurs a debt to another, whether in sterling or in some other currency, no chargeable gain shall accrue to that (that is the original) creditor or his…
Section 252 — Foreign currency bank accounts.
Foreign currency bank accounts. 252 1 Section 251(1) does not apply in relation to a gain accruing to a person on a disposal of a foreign currency debt (or an interest in such a debt) unless that…
Section 252A — Foreign currency bank accounts and the remittance basis
Foreign currency bank accounts and the remittance basis 252A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 253 — Relief for loans to traders.
Relief for loans to traders. 253 1 In this section “ a qualifying loan ” means a loan in the case of which— a the money lent is used by the borrower wholly for the purposes of a trade carried on by…
Section 254 — Relief for debts on qualifying corporate bonds.
Relief for debts on qualifying corporate bonds. 254 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 255 — Provisions supplementary to section 254.
Provisions supplementary to section 254. 255 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 255A — Hold-over relief for gains re-invested in social enterprises
Hold-over relief for gains re-invested in social enterprises 255A Schedule 8B to this Act (which provides relief in respect of gains re-invested in social enterprises) has effect.
Section 255B — Gains and losses on investments in social enterprises
Gains and losses on investments in social enterprises 255B 1 For the purpose of determining the gain or loss on any disposal of an asset by an individual where— a an amount of SI relief is…
Section 255C — Application of section 255B(2) where maximum SI relief not obtained
Application of section 255B(2) where maximum SI relief not obtained 255C 1 Subsection (2) applies if— a an individual's liability to income tax has been reduced (or treated by virtue of section 257T…
Section 255D — Application of section 255B(2) where SI relief has been reduced
Application of section 255B(2) where SI relief has been reduced 255D 1 Subsection (2) applies if before a disposal of an asset— a value is received in circumstances where SI relief attributable to…
Section 255E — Reorganisations involving shares to which SI relief is attributable
Reorganisations involving shares to which SI relief is attributable 255E 1 Subsection (2) applies if an individual holds shares which form part of the ordinary share capital of a company and include…
Section 256 — Charities.
Charities. 256 1 Subject to ... the following provisions of this section , a gain shall not be a chargeable gain if it accrues to a charity and is applicable and applied for charitable purposes. 2 If…
Section 256A — Attributing gains to the non-exempt amount : charitable trusts
Attributing gains to the non-exempt amount : charitable trusts 256A 1 This section applies if a charitable trust has a non-exempt amount under section 540 of ITA 2007 for a year of assessment. 2…
Section 256B — How gains are attributed to the non-exempt amount : charitable trusts
How gains are attributed to the non-exempt amount : charitable trusts 256B 1 This section is about the ways in which attributable gains can be attributed to a non-exempt amount under section 256A. 2…
Section 256C — Attributing gains to the non-exempt amount: charitable companies
Attributing gains to the non-exempt amount: charitable companies 256C 1 This section applies if a charitable company has a non-exempt amount under section 493 of CTA 2010 for an accounting period. 2…
Section 256D — How gains are attributed to the non-exempt amount: charitable companies
How gains are attributed to the non-exempt amount: charitable companies 256D 1 This section is about the ways in which attributable gains can be attributed to a non-exempt amount under section 256C.…
Section 257 — Gifts to charities etc.
Gifts to charities etc. 257 1 Subsection (2) below shall apply where a disposal of an asset is made otherwise than under a bargain at arm’s length— a to a charity or a registered club , or b to any…
Section 257A — Tainted charity donations
Tainted charity donations 257A 1 Section 257 does not apply in relation to a relievable charity donation that becomes a tainted donation in the same tax year in which it is made. 2 Subsection (3)…
Section 257B — Associated donations in relation to tainted charity donations
Associated donations in relation to tainted charity donations 257B 1 This section applies where— a a person makes a relievable charity donation that becomes a tainted donation, and b a person makes…
Section 258 — Works of art etc.
Works of art etc. 258 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1A A gain is not a chargeable gain if it accrues on a disposal made in the circumstances described in paragraph…
Section 259 — Gifts to housing associations.
Gifts to housing associations. 259 1 Subsection (2) below shall apply where— a a disposal of an estate or interest in land in the United Kingdom is made to a relevant housing provider otherwise than…
Section 260 — Gifts on which inheritance tax is chargeable etc.
Gifts on which inheritance tax is chargeable etc. 260 1 If— a an individual or the trustees of a settlement (“ the transferor ”) make a disposal within subsection (2) below of an asset, b the asset…
Section 261 — Section 260 relief: gifts to non-residents.
Section 260 relief: gifts to non-residents. 261 1 Subject to section 261ZA, section 260(3) shall not apply where the transferee is not resident in the United Kingdom. 2 Section 260(3) shall not apply…
Section 261A — Disposal of know-how as part of disposal of all or part of a trade
Disposal of know-how as part of disposal of all or part of a trade 261A 1 This section applies if— a a person carrying on a trade receives consideration for the disposal of know-how which has been…
Section 261ZA — Gifts of direct or indirect interests in UK land to non-residents
Gifts of direct or indirect interests in UK land to non-residents 261ZA 1 This section applies where the disposal in relation to which a claim could be made under section 260 is a disposal of an…
Section 261B — Treating trade loss etc as CGT loss
Treating trade loss etc as CGT loss 261B 1 A person may make a claim under this section if— a relief is available to the person under section 64 or 128 of ITA 2007 (trade or employment loss relief…
Section 261C — Meaning of “the maximum amount” for purposes of section 261B
Meaning of “the maximum amount” for purposes of section 261B 261C 1 For the purposes of section 261B “the maximum amount” is the amount on which the person would be chargeable to capital gains tax…
Section 261D — Treating excess post-cessation trade or property relief as CGT loss
Treating excess post-cessation trade or property relief as CGT loss 261D 1 A person may make a claim under this section if— a relief is available to the person under section 96 or 125 of ITA 2007…
Section 261E — Meaning of “the maximum amount” for purposes of section 261D
Meaning of “the maximum amount” for purposes of section 261D 261E 1 For the purposes of section 261D “the maximum amount” is the amount on which the person would be chargeable to capital gains tax…