Taxation of Chargeable Gains Act 1992 section 32

Disposals within a group followed by a disposal of shares

Section 32 previously dealt with disposals of assets within a corporate group that were followed by a disposal of shares, but it has been effectively removed from the legislation and replaced.

• Section 32 addressed situations where an asset was transferred within a group of companies and shares were subsequently disposed of.
• The section was effectively removed by Finance Act 2011, section 44 and Schedule 9, paragraph 2.
• The replacement provision consolidated former sections 31 to 34 into a single substituted section 31, simplifying the value shifting rules.
• The change applies to disposals of shares or securities made by companies on or after 19 July 2011.