Taxation of Chargeable Gains Act 1992 section 31A

Asset-holding company leaving the group

Section 31A previously dealt with the tax consequences when an asset-holding company left a corporate group, but this provision has been removed from the legislation.

• Section 31A was part of the value shifting rules in sections 31–34 of TCGA 1992, which addressed situations where value was shifted between companies within a group.
• Finance Act 2011, section 44 and Schedule 9, paragraph 2 effectively removed this section by replacing the former sections 31–34 with a single new section 31.
• The change applies to disposals of shares or securities made by companies on or after 19 July 2011.
• For any disposals of shares or securities by companies made before 19 July 2011, the former provisions (including section 31A) would still have applied.