Taxation of Chargeable Gains Act 1992
Sections and provisions with full text and the judgments that cite each one.
Section 105B — Provision supplementary to section 105A
Provision supplementary to section 105A 105B 1 The provisions of section 105A have effect in the case of any disposal notwithstanding that some or all of the securities disposed of are otherwise…
Section 106 — Disposal of shares and securities by company within prescribed period of acquisition.
Disposal of shares and securities by company within prescribed period of acquisition. 106 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 106A — Identification of securities: ... capital gains tax.
Identification of securities: ... capital gains tax. 106A 1 This section has effect for the purposes of capital gains tax (but not corporation tax) where any securities are disposed of by any person.…
Section 107 — Identification of securities etc: general rules for corporation tax .
Identification of securities etc: general rules for corporation tax . 107 1 This section has effect for the purposes of corporation tax where any securities are disposed of by a company. 1A The…
Section 108 — Identification of relevant securities for corporation tax .
Identification of relevant securities for corporation tax . 108 A1 This section has effect for the purposes of corporation tax where any relevant securities are disposed of by a company. 1 In this…
Section 109 — Corporation tax: pre-April 1982 share pools.
Corporation tax: pre-April 1982 share pools. 109 1 For the purposes of corporation tax, this section has effect in relation to any 1982 holding, and in this section “ 1982 holding ” means a holding…
Section 110 — Indexation for section 104 holdings for corporation tax .
Indexation for section 104 holdings for corporation tax . 110 1 For the purposes of corporation tax this section and section 114— a apply in place of section 54 in relation to a disposal of a section…
Section 110A — Indexation for section 104 holdings: capital gains tax.
Indexation for section 104 holdings: capital gains tax. 110A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 111 — Indexation: building society etc. shares.
Indexation: building society etc. shares. 111 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 112 — Parallel pooling regulations : corporation tax .
Parallel pooling regulations : corporation tax . 112 1 The Capital Gains Tax (Parallel Pooling) Regulations 1986 made by the Treasury under paragraph 21 of Schedule 19 to the Finance Act 1985 shall…
Section 113 — Calls on shares : corporation tax .
Calls on shares : corporation tax . 113 A1 This section has effect for the purposes of corporation tax. 1 Subsection (2) below applies where— a on a disposal to which section 53 applies, the relevant…
Section 114 — Consideration for options : corporation tax .
Consideration for options : corporation tax . 114 A1 This section has effect for the purposes of corporation tax. 1 If, in a case where section 110(8)(b) applies, the increase in the qualifying…
Section 115 — Exemptions for gilt-edged securities and qualifying corporate bonds etc.
Exemptions for gilt-edged securities and qualifying corporate bonds etc. 115 1 A gain which accrues on the disposal by any person of— a gilt-edged securities or qualifying corporate bonds, or b any…
Section 116 — Reorganisations, conversions and reconstructions.
Reorganisations, conversions and reconstructions. 116 1 This section shall have effect in any case where a transaction occurs of such a description that, apart from the provisions of this section— a…
Section 116A — Holding beginning or ceasing to fall within section 490 of CTA 2009
Holding beginning or ceasing to fall within section 490 of CTA 2009 116A 1 Section 116 applies in accordance with the following assumptions if— a a holding that is a relevant holding for the purposes…
Section 116B — Shares beginning or ceasing to be shares to which section 521B of CTA 2009 applies
Shares beginning or ceasing to be shares to which section 521B of CTA 2009 applies 116B 1 If at any time section 521B of CTA 2009 (application of Part 5 of that Act to certain shares as rights under…
Section 117 — Meaning of “qualifying corporate bond".
Meaning of “qualifying corporate bond". 117 A1 For the purposes of corporation tax “ qualifying corporate bond ” means ... any asset representing a loan relationship of a company; and for purposes…
Section 117A — Assets that are not qualifying corporate bonds for corporation tax purposes.
Assets that are not qualifying corporate bonds for corporation tax purposes. 117A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 117B — Holdings in unit trusts and offshore funds excluded from treatment as qualifying corporate bonds.
Holdings in unit trusts and offshore funds excluded from treatment as qualifying corporate bonds. 117B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 118 — Amount to be treated as consideration on disposal of deep discount securities etc.
Amount to be treated as consideration on disposal of deep discount securities etc. 118 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 119 — Transfers of securities subject to the accrued income scheme.
Transfers of securities subject to the accrued income scheme. 119 1 Where there is a transfer of securities within the meaning of Chapter 2 of Part 12 of ITA 2007 (accrued income profits)— a if a…
Section 119A — Increase in expenditure by reference to tax charged in relation to employment-related securities
Increase in expenditure by reference to tax charged in relation to employment-related securities 119A 1 This section applies to a disposal of an asset consisting of employment-related securities if…
Section 119B — Section 119A: unchargeable, and unremitted chargeable, foreign securities income
Section 119A: unchargeable, and unremitted chargeable, foreign securities income 119B 1 For the purposes of section 119A reduce the amount that counts as employment income by so much of that amount…
Section 119C — Section 119A: unremitted Part 7A income
Section 119A: unremitted Part 7A income 119C 1 This section applies for the purposes of section 119A if an amount deducted under section 480(5)(d) of ITEPA 2003, which (apart from this section) would…
Section 120 — Increase in expenditure by reference to tax charged in relation to shares etc.
Increase in expenditure by reference to tax charged in relation to shares etc. 120 1 Subsection (1A) applies where— a a person (“ the employee ”) has acquired shares or an interest in shares as…
Section 121 — Exemption for government non-marketable securities.
Exemption for government non-marketable securities. 121 1 Savings certificates and non-marketable securities issued under the National Loans Act 1968 or the National Loans Act 1939, or any…
Section 122 — Distribution which is not a new holding within Chapter II.
Distribution which is not a new holding within Chapter II. 122 1 Where a person receives or becomes entitled to receive in respect of shares in a company any capital distribution from the company…
Section 123 — Disposal of right to acquire shares or debentures.
Disposal of right to acquire shares or debentures. 123 1 Where a person receives or becomes entitled to receive in respect of any shares in a company a provisional allotment of shares in or…
Section 124 — Disposal of shares: relief in respect of income tax consequent on shortfall in distributions.
Disposal of shares: relief in respect of income tax consequent on shortfall in distributions. 124 1 If in pursuance of section 426 of the Taxes Act (consequences for income tax of apportionment of…
Section 125 — Shares in close company transferring assets at an undervalue.
Shares in close company transferring assets at an undervalue. 125 1 If a company which is a close company transfers, or has after 31st March 1982 transferred, an asset to any person otherwise than by…
Section 125A — Effect of share loss relief
Effect of share loss relief 125A 1 If loss relief under ... Chapter 6 of Part 4 of ITA 2007 or Chapter 5 of Part 4 of CTA 2010 (“share loss relief”) is obtained in respect of a loss or any part of a…
Section 126 — Application of sections 127 to 131.
Application of sections 127 to 131. 126 1 For the purposes of this section and sections 127 to 131 “ reorganisation ” means a reorganisation or reduction of a company’s share capital, and in relation…
Section 127 — Equation of original shares and new holding.
Equation of original shares and new holding. 127 Subject to sections 128 to 130, a reorganisation shall not be treated as involving any disposal of the original shares or any acquisition of the new…
Section 128 — Consideration given or received by holder.
Consideration given or received by holder. 128 1 Subject to subsection (2) below, where, on a reorganisation, a person gives or becomes liable to give any consideration for his new holding or any…
Section 129 — Part disposal of new holding.
Part disposal of new holding. 129 Subject to section 130(2), where for the purpose of computing the gain or loss accruing to a person from the acquisition and disposal of any part of the new holding…
Section 130 — Composite new holdings.
Composite new holdings. 130 1 This section shall apply to a new holding— a if it consists of more than one class of shares in or debentures of the company and one or more of those classes is of…
Section 131 — Indexation allowance.
Indexation allowance. 131 1 This section applies where— a by virtue of section 127, on a reorganisation the original shares (taken as a single asset) and the new holding (taken as a single asset)…
Section 132 — Equation of converted securities and new holding.
Equation of converted securities and new holding. 132 1 Sections 127 to 131 shall apply with any necessary adaptations in relation to the conversion of securities as they apply in relation to a…
Section 133 — Premiums on conversion of securities.
Premiums on conversion of securities. 133 1 This section applies where, on a conversion of securities, a person receives, or becomes entitled to receive, any sum of money (“ the premium ”) which is…
Section 134 — Compensation stock.
Compensation stock. 134 1 This section has effect where gilt-edged securities are exchanged for shares in pursuance of any enactment (including an enactment passed after this Act) which provides for…
Section 135 — Exchange of securities for those in another company
Exchange of securities for those in another company 135 1 This section applies in the following circumstances where a company (“company B”) issues shares or debentures to a person in exchange for…
Section 136 — Scheme of reconstruction involving issue of securities
Scheme of reconstruction involving issue of securities 136 1 This section applies where— a an arrangement between a company (“ company A ”) and— i the persons holding shares in or debentures of the…
Section 137 — Restriction on application of sections 135 and 136 : anti-avoidance .
Restriction on application of sections 135 and 136 : anti-avoidance . 137 1 This section applies in respect of arrangements relating to an exchange or scheme of reconstruction as regards which…
Section 138 — Procedure for clearance in advance.
Procedure for clearance in advance. 138 1 Section 137 does not apply in any case where, before the issue of shares or debentures mentioned in section 135(1) or 136(1) is made, the Board have, on the…
Section 138A — Use of earn-out rights for exchange of securities.
Use of earn-out rights for exchange of securities. 138A 1 For the purposes of this section an earn-out right is so much of any right conferred on any person (“ the seller ”) as— a constitutes the…
Section 138ZA — Share exchanges involving non-UK incorporated close companies
Share exchanges involving non-UK incorporated close companies 138ZA 1 Section 138ZB applies where— a section 135 or 136 applies to an issue by a company (“ company B ”) of shares in or debentures of…
Section 138ZB — Treatment of securities connected with such exchanges
Treatment of securities connected with such exchanges 138ZB 1 Where this section applies (see section 138ZA ), a security falling within subsection (2) is to be treated for the purposes of this Act…
Section 138ZC — Election to disapply section 135 or 136
Election to disapply section 135 or 136 138ZC 1 This section applies where section 138ZB would, but for an election under this section, apply in relation to the issue by a company of shares in or…
Section 139 — Reconstruction ... involving transfer of business.
Reconstruction ... involving transfer of business. 139 1 Subject to the provisions of this section, where— a any scheme of reconstruction ... involves the transfer of the whole or part of a company’s…
Section 140 — Postponement of charge on transfer of assets to non-resident company.
Postponement of charge on transfer of assets to non-resident company. 140 1 This section applies where a company resident in the United Kingdom carries on a trade outside the United Kingdom through a…