Taxation of Chargeable Gains Act 1992
Sections and provisions with full text and the judgments that cite each one.
Section 140A — Transfer or division of UK business
Transfer or division of UK business 140A 1 This section applies where— a a company resident in one relevant state ( the transferor ) transfers the whole or part of a business carried on by it in the…
Section 140DA — Securities issued on division of business
Securities issued on division of business 140DA 1 This section applies where— a a transfer of assets to which section 140A(1A) or 140C(1A) applies has taken place, b the transferor and the transferee…
Section 140GA — Disapplication of sections 24 and 122 where subsidiary merges with its parent
Disapplication of sections 24 and 122 where subsidiary merges with its parent 140GA Sections 24 and 122 do not apply if— a a merger is effected by the transfer by a company (“the transferor company”)…
Section 140B — Section 140A: anti-avoidance.
Section 140A: anti-avoidance. 140B 1 Section 140A shall not apply unless the transfer of the business or part is effected for bona fide commercial reasons and does not form part of a scheme or…
Section 140C — Transfer or division of non-UK business
Transfer or division of non-UK business 140C 1 This section applies where— a a company resident in the United Kingdom ( the transferor ) transfers to a company resident in a member State ( the…
Section 140D — Section 140C: anti-avoidance.
Section 140C: anti-avoidance. 140D 1 Section 140C shall not apply unless the transfer of the business or part is effected for bona fide commercial reasons and does not form part of a scheme or…
Section 140E — Merger leaving assets within UK tax charge
Merger leaving assets within UK tax charge 140E 1 This section applies on a merger which satisfies the conditions specified in subsection (2), where— a an SE is formed by the merger of two or more…
Section 140F — Merger: assets outside UK tax charge
Merger: assets outside UK tax charge 140F 1 This section applies on a merger which satisfies the conditions specified in subsection (2), where— a an SE is formed by the merger of two or more…
Section 140G — Treatment of securities issued on merger
Treatment of securities issued on merger 140G 1 This section applies on a merger which satisfies the conditions specified in subsection (2), where— a an SE is formed by the merger of two or more…
Section 140H — Share exchanges
Share exchanges 140H 1 This section applies if— a a company (“company B”) issues shares or debentures to a person in exchange for shares in or debentures of another company (“company A”), b the…
Section 140I — Division of business or transfer of assets
Division of business or transfer of assets 140I 1 This section applies in relation to a transfer of a business, or part of a business, where— a the transfer is of a kind mentioned in section 140A(1)…
Section 140J — Mergers
Mergers 140J 1 This section applies in relation to a merger if— a the merger is of a kind mentioned in section 140E(1) , b the conditions in section 140E(2) are satisfied in relation to the merger,…
Section 140K — Transparent entities: taxation after merger, &c
Transparent entities: taxation after merger, &c 140K 1 This section applies if— a a transparent entity (“company A”) is a transferee for the purposes of section 140A(1A) or 140E, b a person (“X”)…
Section 140L — Interpretation
Interpretation 140L 1 In sections 140A to 140K and this section , unless the contrary intention appears— a “the Mergers Directive” means Council Directive 2009/133/EC, b “company” means an entity…
Section 142 — Capital gains on stock dividends.
Capital gains on stock dividends. 142 1 This section applies where any share capital to which section 410(2), (3) or (4) of ITTOIA 2005 applies in respect of shares in the company held by any person.…
Section 142A — REITs: chargeable gains on stock dividends
REITs: chargeable gains on stock dividends 142A 1 This section applies if share capital issued in lieu of a cash dividend by— a a company UK REIT, or b the principal company of a group UK REIT, is…
Section 143 — Commodity and financial futures and qualifying options.
Commodity and financial futures and qualifying options. 143 1 If, apart from section 981 of CTA 2009 and section 779 of ITTOIA 2005 , gains arising to any person in the course of dealing in commodity…
Section 144 — Options and forfeited deposits.
Options and forfeited deposits. 144 1 Without prejudice to section 21, the grant of an option, and in particular— a the grant of an option in a case where the grantor binds himself to sell what he…
Section 144A — Cash-settled options.
Cash-settled options. 144A 1 In any case where— a an option is exercised; and b the nature of the option (or its exercise) is such that the grantor of the option is liable to make, and the person…
Section 144ZA — Application of market value rule in case of exercise of option
Application of market value rule in case of exercise of option 144ZA 1 Subject to section 144ZB, This section applies where— a an option is exercised, so that by virtue of section 144(2) or (3) the…
Section 144ZB — Exception to rule in section 144ZA
Exception to rule in section 144ZA 144ZB 1 This section applies where— a section 144ZA would apply but for this section in relation to an option, and b the exercise of the option is non-commercial…
Section 144ZC — Section 144ZB: non-commercial exercise of option
Section 144ZB: non-commercial exercise of option 144ZC 1 For the purposes of section 144ZB, the exercise of an option which binds the grantor to buy is non-commercial if the exercise price for the…
Section 144ZD — Section 144ZB: alteration of value to obtain tax advantage
Section 144ZB: alteration of value to obtain tax advantage 144ZD 1 This section applies in relation to an option if each of the following conditions is satisfied (as to the effect of this section…
Section 145 — Call options: indexation allowance.
Call options: indexation allowance. 145 1 This section applies ... where, on a disposal to which section 53 applies, the relevant allowable expenditure includes both— a the cost of acquiring an…
Section 146 — Options: application of rules as to wasting assets.
Options: application of rules as to wasting assets. 146 1 Section 46 shall not apply— a to a quoted option to subscribe for shares in a company, or b to a traded option, or financial option, or c to…
Section 147 — Quoted options treated as part of new holdings.
Quoted options treated as part of new holdings. 147 1 If a quoted option to subscribe for shares in a company is dealt in (on the stock exchange where it is quoted) within 3 months after the taking…
Section 148 — Traded options: closing purchases.
Traded options: closing purchases. 148 1 This section applies where a person (“ the grantor ”) who has granted a traded option (“ the original option ”) closes it out by acquiring a traded option of…
Section 148A — Futures and options involving guaranteed returns
Futures and options involving guaranteed returns 148A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 148B — Deemed disposals at a gain under section 564(4) of ITTOIA 2005
Deemed disposals at a gain under section 564(4) of ITTOIA 2005 148B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 148C — Deemed disposals at a loss under section 564(4) of ITTOIA 2005
Deemed disposals at a loss under section 564(4) of ITTOIA 2005 148C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 149 — Rights to acquire qualifying shares.
Rights to acquire qualifying shares. 149 1 This section applies where on or after 25th July 1991 (the day on which the Finance Act 1991 was passed) a building society confers— a on its members, or b…
Section 149A — Employment-related securities options
Employment-related securities options 149A 1 This section applies where— a an option is granted on or after 16th March 1993, b the option is a securities option within the meaning of Chapter 5 of…
Section 149AA — Restricted and convertible employment-related securities and employee shareholder shares
Restricted and convertible employment-related securities and employee shareholder shares 149AA 1 Subject to subsection (1A), where an individual has acquired an asset consisting of employment-related…
Section 149AB — Shares in research institution spin-out companies
Shares in research institution spin-out companies 149AB 1 Where an individual has acquired shares (or an interest in shares) in circumstances where section 452(1) and (2)(a) of ITEPA 2003 (shares in…
Section 149B — Employee incentive schemes: conditional interests in shares.
Employee incentive schemes: conditional interests in shares. 149B 1 Where— a an individual has acquired an interest in any shares or securities which is only conditional, b that interest is one which…
Section 149C — Priority share allocations
Priority share allocations 149C Section 17(1) shall not apply to an acquisition of shares if section 542 or 544 of ITEPA 2003 applies in relation to it.
Section 150 — Business expansion schemes.
Business expansion schemes. 150 1 In this section “ relief ” means relief under Chapter III of Part VII of the Taxes Act, Schedule 5 to the Finance Act 1983 (“ the 1983 Act ”) or Chapter II of Part…
Section 150A — Enterprise investment scheme.
Enterprise investment scheme. 150A 1 For the purpose of determining the gain or loss on any disposal of ... shares by an individual where— a an amount of EIS relief is attributable to the shares, and…
Section 150B — Enterprise investment scheme: reduction of EIS relief .
Enterprise investment scheme: reduction of EIS relief . 150B 1 This section has effect where section 150A(2) applies on a disposal of ... shares, and before the disposal but on or after 29th November…
Section 150C — Enterprise investment scheme: re-investment.
Enterprise investment scheme: re-investment. 150C Schedule 5B to this Act (which provides relief in respect of re-investment under the enterprise investment scheme) shall have effect.
Section 150D — Enterprise investment scheme: application of taper relief
Enterprise investment scheme: application of taper relief 150D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 150E — Seed enterprise investment scheme
Seed enterprise investment scheme 150E 1 For the purpose of determining the gain or loss on any disposal of shares by an individual where— a an amount of SEIS relief is attributable to the shares,…
Section 150F — Seed enterprise investment scheme: reduction of relief
Seed enterprise investment scheme: reduction of relief 150F 1 This section has effect where— a section 150E(2) applies on a disposal of shares, and b before the disposal, value is received in…
Section 150G — Seed enterprise investment scheme: re-investment
Seed enterprise investment scheme: re-investment 150G Schedule 5BB to this Act (which provides relief in respect of re-investment under the seed enterprise investment scheme ... ) has effect.
Section 151 — Personal equity plans.
Personal equity plans. 151 1 The Treasury may make regulations providing that an individual who invests under a plan shall be entitled to relief from capital gains tax in respect of the investments.…
Section 151A — Venture capital trusts: reliefs.
Venture capital trusts: reliefs. 151A 1 A gain or loss accruing to an individual on a qualifying disposal of any ordinary shares in a company which— a was a venture capital trust at the time when he…
Section 151BA — CITR: identification of securities or shares on a disposal
CITR: identification of securities or shares on a disposal 151BA 1 This section applies for the purpose of identifying the securities or shares disposed of in any case where— a an individual or…
Section 151KA — Diminishing shared ownership arrangements: refinancing
Diminishing shared ownership arrangements: refinancing 151KA 1 This section applies to arrangements if under them— a a person (“ the customer ”) has a beneficial interest in an asset, b the customer…
Section 151B — Venture capital trusts: supplementary.
Venture capital trusts: supplementary. 151B 1 Sections 104, 105 and 106A shall not apply to any shares in a venture capital trust which are eligible for relief under section 151A(1). 2 Subject to the…
Section 151BB — CITR: rights issues etc
CITR: rights issues etc 151BB 1 If— a an individual or company (“the investor”) holds shares in the CDFI which are of the same class and held in the same capacity (“the existing holding”), b there is…