IFM05440 | Investors in property authorised investment funds (PAIFs): investors within the charge to corporation tax: Disposals

Normal rules for corporation tax on chargeable gains apply when a company disposes of shares in a PAIF.

The only exception to the treatment of disposal is where the shares have been held as part of the long-term fund of a life assurance company. In these circumstances, the shares are treated in the same way as shares in other authorised investment funds – see section 212 of the Taxation of Chargeable Gains Act 1992.