Taxation of Chargeable Gains Act 1992 section 2G

Assets of a company vested in a liquidator

Section 2G ensures that when a company's assets are transferred to a liquidator, the chargeable gains rules continue to treat those assets as belonging to the company itself.

• Where a company's assets are vested in a liquidator, the chargeable gains provisions apply as though the assets remain owned by the company
• Any actions taken by the liquidator in relation to those assets are treated as if they were the company's own actions
• Transfers of assets between the company and the liquidator are disregarded — they are not treated as acquisitions or disposals for chargeable gains purposes
• The assets may be vested in the liquidator under the Insolvency Act 1986, the Insolvency (Northern Ireland) Order 1989, or by any other means