Taxation of Chargeable Gains Act 1992 section 106

Disposal of shares and securities by company within prescribed period of acquisition

Section 106 previously dealt with the tax treatment of shares and securities disposed of by a company within a prescribed period after acquiring them, but this provision has been repealed and no longer applies to disposals made on or after 5 December 2005.

• Section 106 addressed situations where a company disposed of shares or securities shortly after acquiring them, within a prescribed timeframe
• The section was fully repealed by the Finance Act 2006 (section 178 and Schedule 26, Part 3, paragraph 9)
• The repeal applies to all disposals of shares and securities made on or after 5 December 2005
• For any disposals that took place before 5 December 2005, the original provisions of section 106 would still have applied to determine the chargeable gains treatment