Taxation of Chargeable Gains Act 1992
Sections and provisions with full text and the judgments that cite each one.
Section 151BC — CITR: company reconstructions etc
CITR: company reconstructions etc 151BC 1 If— a an individual or company (“the investor”) holds shares in or debentures of a company (“company A”), b there is a reconstruction or amalgamation…
Section 151C — Strips: manipulation of price: associated payment giving rise to loss
Strips: manipulation of price: associated payment giving rise to loss 151C 1 This section applies if— a as a result of any scheme or arrangement which has an unallowable purpose, the circumstances…
Section 151D — Corporate strips: manipulation of price: associated payment giving rise to loss
Corporate strips: manipulation of price: associated payment giving rise to loss 151D 1 This section applies if— a as a result of any scheme or arrangement which has an unallowable purpose, the…
Section 151E — Exchange gains and losses from loan relationships: regulations
Exchange gains and losses from loan relationships: regulations 151E 1 The Treasury may by regulations make provision for or in connection with bringing into account in prescribed circumstances for…
Section 151F — Treatment of alternative finance arrangements
Treatment of alternative finance arrangements 151F . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 151G — Regulations where non-qualifying shares conditions altered
Regulations where non-qualifying shares conditions altered 151G 1 If the Treasury make regulations under section 533 of CTA 2009 (power to change conditions for non-qualifying shares) adding, varying…
Section 151H — Introduction
Introduction 151H 1 This Chapter makes provision about the treatment of alternative finance arrangements ... and alternative finance return under such arrangements for the purposes of this Act (see…
Section 151I — Meaning of “financial institution”
Meaning of “financial institution” 151I 1 In this Chapter “ financial institution ” means— a a bank, as defined by section 1120 of CTA 2010, b a building society, c a wholly-owned subsidiary— i of a…
Section 151J — Purchase and resale arrangements
Purchase and resale arrangements 151J 1 This section applies to arrangements if— a they are entered into between two persons (“ the first purchaser ” and “ the second purchaser ”), and— i at least…
Section 151K — Diminishing shared ownership arrangements : initial acquisition
Diminishing shared ownership arrangements : initial acquisition 151K 1 This section applies to arrangements if under them— a a person (“ the financier ”) acquires a beneficial interest in an asset,…
Section 151L — Deposit arrangements
Deposit arrangements 151L 1 This section applies to arrangements if under them— a a person (“the depositor”) deposits money with a financial institution, b the money, together with money deposited…
Section 151M — Profit share agency arrangements
Profit share agency arrangements 151M 1 This section applies to arrangements if under them— a a person (“ the principal ”) appoints an agent, b one or both of the principal and agent is a financial…
Section 151N — Investment bond arrangements
Investment bond arrangements 151N 1 This section applies to arrangements if— a they provide for one person (“the bond-holder”) to pay a sum of money (“the capital”) to another (“the bond-issuer”), b…
Section 151O — Provision not at arm's length: exclusion of arrangements from sections 151J to 151N
Provision not at arm's length: exclusion of arrangements from sections 151J to 151N 151O 1 Arrangements to which this section applies are not— a purchase and resale arrangements, b diminishing shared…
Section 151P — Purchase and resale arrangements
Purchase and resale arrangements 151P 1 In the case of purchase and resale arrangements, so much of the second purchase price as is specified under the following provisions of this section is…
Section 151Q — Purchase and resale arrangements where return in foreign currency
Purchase and resale arrangements where return in foreign currency 151Q 1 If, in the case of purchase and resale arrangements, alternative finance return is paid in a currency other than sterling— a…
Section 151R — Diminishing shared ownership arrangements
Diminishing shared ownership arrangements 151R 1 In the case of diminishing shared ownership arrangements, payments by the customer under the arrangements are alternative finance return for the…
Section 151S — Other arrangements
Other arrangements 151S 1 In the case of deposit arrangements, amounts paid or credited as mentioned in section 151L(1)(c) by a financial institution under the arrangements (payments to depositor out…
Section 151T — Investment bond arrangements are qualifying corporate bonds
Investment bond arrangements are qualifying corporate bonds 151T 1 For the purposes of section 117, investment bond arrangements are a corporate bond, issued on the date on which the arrangements are…
Section 151U — Treatment of bond-holder and bond-issuer
Treatment of bond-holder and bond-issuer 151U 1 This section applies for the purposes of this Act and any other enactment about capital gains tax and irrespective of the position for other purposes.…
Section 151V — Treatment as securities
Treatment as securities 151V 1 Investment bond arrangements are securities for the purposes of this Act and any other enactment about capital gains tax. 2 For those purposes— a a reference in an…
Section 151W — Investment bond arrangements not unit trust scheme or offshore fund
Investment bond arrangements not unit trust scheme or offshore fund 151W Investment bond arrangements are not— a a unit trust scheme for the purposes of this Act, or b an offshore fund for the…
Section 151X — Exclusion of some alternative finance return from sale consideration
Exclusion of some alternative finance return from sale consideration 151X 1 If under purchase and resale arrangements an asset is sold by one party to the arrangements to the other party, the…
Section 151Y — Diminishing shared ownership arrangements : further provision
Diminishing shared ownership arrangements : further provision 151Y 1 Diminishing shared ownership arrangements are not treated as a partnership for capital gains tax purposes. 2 If, under diminishing…
Section 151Z — Diminishing shared ownership arrangements: further provision in respect of refinancing
Diminishing shared ownership arrangements: further provision in respect of refinancing 151Z 1 This section applies in respect of diminishing shared ownership arrangements to which section 151KA…
Section 152 — Roll-over relief.
Roll-over relief. 152 1 If the consideration which a person carrying on a trade obtains for the disposal of, or of his interest in, assets (“ the old assets ”) used, and used only, for the purposes…
Section 153 — Assets only partly replaced.
Assets only partly replaced. 153 1 Section 152(1) shall not apply if part only of the amount or value of the consideration for the disposal of, or of the interest in, the old assets is applied as…
Section 153A — Provisional application of sections 152 and 153.
Provisional application of sections 152 and 153. 153A 1 This section applies where a person carrying on a trade who for a consideration disposes of, or of his interest in, any assets (“the old…
Section 154 — New assets which are depreciating assets.
New assets which are depreciating assets. 154 1 Sections 152, 153 and 229 shall have effect subject to the provisions of this section in which— a the “ held-over gain ” means the amount by which,…
Section 155 — Relevant classes of assets.
Relevant classes of assets. 155 The classes of assets for the purposes of section 152(1) are as follows. CLASS 1 Assets within heads A and B below. Head A Any building or part of a building and any…
Section 156 — Assets of Class 1.
Assets of Class 1. 156 1 This section has effect as respects head A of Class 1 in section 155. 2 Head A shall not apply where the trade is a trade— a of dealing in or developing land, or b of…
Section 156A — Cessation of trade by limited liability partnership.
Cessation of trade by limited liability partnership. 156A 1 Where, immediately before the time of cessation of trade, a member of a limited liability partnership holds an asset, or an interest in an…
Section 156ZA — Intangible fixed assets: roll-over relief
Intangible fixed assets: roll-over relief 156ZA 1 This section applies if a company is entitled to relief under Chapter 7 of Part 8 of CTA 2009 (roll-over relief in case of realisation and…
Section 156ZB — Intangible fixed assets: interaction with relief under Chapter 7 of Part 8 of CTA 2009
Intangible fixed assets: interaction with relief under Chapter 7 of Part 8 of CTA 2009 156ZB 1 Subsection (2) applies if there is a disposal on or after 1 April 2002 of an asset that is both— a an…
Section 157 — Trade carried on by family company: business assets dealt with by individual.
Trade carried on by family company: business assets dealt with by individual. 157 In relation to a case where— a the person disposing of, or of his interest in, the old assets and acquiring the new…
Section 158 — Activities other than trades, and interpretation.
Activities other than trades, and interpretation. 158 1 Sections 152 to 157 shall apply with the necessary modifications— a in relation to the discharge of the functions of a public authority, and b…
Section 159 — Non-residents: roll-over relief.
Non-residents: roll-over relief. 159 1 Section 152 shall not apply in the case of a person if the old assets are chargeable assets in relation to him at the time they are disposed of, unless the new…
Section 159A — Disposals of interests in UK land by non-residents: roll-over relief
Disposals of interests in UK land by non-residents: roll-over relief 159A 1 This section applies in a case where— a the old assets that are disposed of are interests in UK land, and b a chargeable…
Section 160 — Dual resident companies: roll-over relief.
Dual resident companies: roll-over relief. 160 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 161 — Appropriations to and from stock.
Appropriations to and from stock. 161 1 Subject to subsection (3) below, where an asset acquired by a person otherwise than as trading stock of a trade carried on by him is appropriated by him for…
Section 162 — Roll-over relief on transfer of business.
Roll-over relief on transfer of business. 162 1 This section shall apply for the purposes of this Act— a where a person who is not a company transfers to a company a business as a going concern,…
Section 162A — Election for section 162 not to apply
Election for section 162 not to apply 162A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 162B — Disincorporation relief: assets (including pre-FA 2002 goodwill)
Disincorporation relief: assets (including pre-FA 2002 goodwill) 162B 1 This section applies where— a a company transfers its business to some or all of the shareholders of the company, and b a claim…
Section 162C — Disincorporation relief: post-FA 2002 goodwill
Disincorporation relief: post-FA 2002 goodwill 162C 1 This section applies where— a a company transfers its business to some or all of the shareholders of the company, b a claim for disincorporation…
Section 163 — Relief for disposals by individuals on retirement from family business.
Relief for disposals by individuals on retirement from family business. 163 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 164 — Other retirement relief.
Other retirement relief. 164 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 164A — Relief on re-investment for individuals.
Relief on re-investment for individuals. 164A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 164BA — Interaction with retirement relief
Interaction with retirement relief 164BA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 164FA — Loss of relief in cases where shares acquired on being issued.
Loss of relief in cases where shares acquired on being issued. 164FA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 164MA — Exclusion of double relief
Exclusion of double relief 164MA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .