F1PART 6AFUNDS INVESTING IN NON-REPORTING OFFSHORE FUNDS
Annotations:
Amendments (Textual)
CHAPTER 7Deduction of income gains in computing chargeable gains
Application of section 128 of TCGA 199285Z8
1
This regulation applies if there is a disposal to which this Part applies by virtue of—
a
regulation 85X (application of section 135 of TCGA 1992), and
b
regulation 85Y (application of section 136 of TCGA 1992).
2
TCGA 1992 has effect as if an amount equal to the income gain to which that disposal gives rise were given (by the person making the exchange) as consideration for the new holding (within the meaning of section 128 of that Act (consideration given or received for new holding on a reorganisation)).
Pt. 6A inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 21 (with regs. 25, 26)