Taxation of Chargeable Gains Act 1992 section 179B

Roll-over of degrouping charge on business assets

Section 179B previously provided rules for rolling over a degrouping charge into the cost of replacement business assets, but has been repealed.

• Section 179B allowed companies to roll over a degrouping charge arising when a company left a group, deferring the gain into replacement business assets.
• The section was repealed by Finance Act 2011, Schedule 10, paragraph 5(b).
• The repeal formed part of a wider simplification of the degrouping charge rules introduced by the Finance Act 2011.
• Any transactions or arrangements that previously relied on this section must now be considered under the revised degrouping provisions in force from 2011 onwards.