Taxation of Chargeable Gains Act 1992 section 164L

Anti-avoidance provisions

Section 164L contained anti-avoidance rules designed to prevent taxpayers from exploiting the roll-over relief provisions that were available under Chapter 1A of the Act, but this section was repealed for acquisitions made on or after 6 April 1998.

• Section 164L was part of Chapter 1A (sections 164A–164N), which provided roll-over relief on the reinvestment of proceeds from the disposal of qualifying assets.
• The section set out anti-avoidance measures to counter arrangements that sought to misuse or manipulate the roll-over relief rules in Chapter 1A.
• The entire chapter, including section 164L, was repealed by the Finance Act 1998 for any acquisitions made on or after 6 April 1998.
• Any acquisitions made before 6 April 1998 that relied on the original Chapter 1A provisions may still be governed by the rules as they stood prior to repeal.