Taxation of Chargeable Gains Act 1992 section 187

Postponement of charge on deemed disposal under section 185 or 186

Section 187 previously allowed companies to postpone the capital gains tax charge that arose when they were treated as having disposed of their assets upon ceasing to be UK resident, but has now been repealed.

• Section 187 provided a mechanism for postponing the chargeable gains tax liability triggered when a company was deemed to have disposed of its assets under sections 185 or 186 upon ceasing UK residence.
• The section was repealed by Finance Act 2019, section 23 and Schedule 8, paragraph 9(1).
• The repeal takes effect where a company ceases to be resident in the United Kingdom on or after 1 January 2020.
• For companies that ceased UK residence before 1 January 2020, any existing postponement arrangements under the old rules would continue to apply under transitional provisions.