Taxation of Chargeable Gains Act 1992 section 178

Company ceasing to be member of group: pre-appointed day cases

Section 178 dealt with the tax consequences when a company left a group, specifically in relation to cases arising before an appointed day, but this section has been repealed.

• Section 178 addressed chargeable gains implications when a company ceased to be a member of a group of companies, focusing on pre-appointed day cases.
• The section was repealed by the Finance Act 2000, Schedule 40 Part II(12), effective from 28 July 2000.
• The repeal was made under section 156 of the Finance Act 2000, with transitional provisions contained in Schedule 29, paragraph 46(5).
• As a repealed provision, section 178 no longer has any practical application and is retained only for historical reference purposes.