Taxation of Chargeable Gains Act 1992 section 188

Dual resident companies: deemed disposal of certain assets

Section 188 previously dealt with the deemed disposal of certain assets held by dual resident companies, but has been fully repealed.

• Section 188 originally addressed the tax treatment of certain assets held by companies resident in both the UK and another jurisdiction.
• The section provided rules for a deemed disposal of specified assets in the context of dual resident companies.
• The section was repealed by the Finance Act 1994, section 251(10) and Schedule 26, Part VIII(1).
• The repeal took effect from 30 November 1993, meaning the provision has had no application since that date.