Taxation of Chargeable Gains Act 1992 section 218

Disposals of land between the Regulator of Social Housing, the Secretary of State or Scottish Homes and housing associations

Section 218 provides a no-gain, no-loss treatment for corporation tax purposes when land and related assets are transferred between housing associations and the Regulator of Social Housing, the Secretary of State, or Scottish Homes under approved schemes.

• When the Regulator of Social Housing acquires all the land held by a housing association under an approved scheme, the transfer is treated for corporation tax purposes as taking place at a value that produces neither a gain nor a loss for either party.
• The same no-gain, no-loss treatment applies when the Regulator subsequently disposes of that land, together with all related assets, to a single replacement housing association.
• "Related assets" means assets acquired or held by the Regulator under the same scheme as the land in question, and "housing association" takes its meaning from the Housing Associations Act 1985.
• The same rules apply equally where the Secretary of State or Scottish Homes acts in place of the Regulator of Social Housing.