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Legislation
Taxation of Chargeable Gains Act 1992

Crossheading Transfers concerning companies of different member States

  • Section 140A Transfer or division of UK business
  • Section 140B Section 140A: anti-avoidance.
  • Section 140C Transfer or division of non-UK business
  • Section 140D Section 140C: anti-avoidance.
  • Section 140DA Securities issued on division of business
  1. Transfers concerning companies of different member States
  2. Securities issued on division of business

Section 140DA | Securities issued on division of business F1

From legislation.gov.uk

(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 (or each of the transferees) are each resident in a relevant state,F2

(c)they are not all resident in the same relevant state, andF3

(e)the transfer does not constitute or form part of a scheme of reconstruction within the meaning of section 136.

(2)Where this section applies, the transfer shall be treated for the purposes of section 136 as if it were a scheme of reconstruction.

(3)Where section 136 applies by virtue of subsection (2) above section 136(6) (and section 137) shall not apply.

Notes

  1. F1

    S. 140DA inserted (with effect in accordance with reg. 3(1) of the amending S.I.) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2007 (S.I. 2007/3186), reg. 1(2), Sch. 1 para. 6 (with S.I. 2008/1579, reg. 4(1))

  2. F2

    Words in s. 140DA(1)(b) substituted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 6(4)(a) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)

  3. F3

    Words in s. 140DA(1)(c) substituted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 6(4)(b) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)

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