Taxation of Chargeable Gains Act 1992 section 117B

Holdings in unit trusts and offshore funds excluded from treatment as qualifying corporate bonds

Section 117B previously excluded holdings in unit trusts and offshore funds from being treated as qualifying corporate bonds, but has been repealed.

• Section 117B dealt with the treatment of holdings in unit trusts and offshore funds for chargeable gains purposes.
• The section excluded such holdings from qualifying corporate bond status, meaning gains and losses on them remained chargeable or allowable.
• The section was repealed by Finance Act 2002, effective for accounting periods beginning on or after 1 October 2002.
• For any accounting periods beginning before 1 October 2002, the original provisions of section 117B would still have applied.

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