Taxation of Chargeable Gains Act 1992 section 179A

Reallocation within group of gain or loss accruing under section 179

Section 179A formerly provided rules for reallocating within a group of companies a chargeable gain or allowable loss arising under section 179 (the degrouping charge), but has been repealed.

• Section 179A allowed a group of companies to reallocate a degrouping gain or loss that arose under section 179 from one group member to another.
• The section was repealed by the Finance Act 2011, Schedule 10, paragraph 5(a).
• The repeal formed part of a wider reform of the degrouping charge rules introduced by the Finance Act 2011.
• Any transactions or elections made under this section before its repeal may still have continuing relevance for earlier accounting periods.