Taxation of Chargeable Gains Act 1992 section 34

Transactions treated as a reorganisation of share capital

Section 34 previously dealt with certain transactions that were to be treated as a reorganisation of share capital for capital gains tax purposes, but this section has been effectively removed from the legislation.

• Section 34 originally provided rules for treating certain transactions as reorganisations of share capital.
• The section was effectively omitted by Finance Act 2011, section 44 and Schedule 9, paragraph 2.
• A new, consolidated section 31 was substituted in place of the former sections 31 to 34.
• The changes apply to disposals of shares or securities made by companies on or after 19 July 2011.