Taxation of Chargeable Gains Act 1992 section 200

Limitation of losses on disposal of oil industry assets held on 31st March 1982

Section 200 previously placed restrictions on allowable losses arising from disposals of assets used in the oil industry that were held on 31 March 1982, but has since been repealed.

• Section 200 originally limited the amount of capital losses that could be claimed on disposals of oil industry assets held on 31 March 1982.
• The section was fully repealed by the Finance Act 1994, with effect from 30 November 1993.
• The repeal was enacted under section 93(7) and Schedule 26 Part V(8) of the Finance Act 1994.
• As a repealed provision, section 200 has no continuing application to disposals occurring after 30 November 1993.