Taxation of Chargeable Gains Act 1992 section 148C

Deemed disposals at a loss under section 564(4) of ITTOIA 2005

Section 148C previously dealt with deemed disposals at a loss in connection with certain transactions taxed under the disguised interest rules in ITTOIA 2005, but has been removed from the legislation.

• Section 148C addressed the capital gains tax treatment of deemed disposals at a loss arising under the disguised interest provisions of ITTOIA 2005.
• The section was omitted from the legislation by the Finance Act 2013, Schedule 12, paragraph 8.
• The removal took effect from the tax year 2013–14 onwards, meaning it has no application for that year or any subsequent tax year.
• Any capital gains tax matters relating to deemed losses under this provision for tax years prior to 2013–14 would have been governed by the original rules while they were in force.