New Schedule 1
Crossrail Bill
6:00 pm
Chargeable gains: assets to be treated as disposed of without a gain or a loss
22 (1) For the purposes of TCGA 1992 a disposal—
(a) constituted by a relevant transfer, or
(b) to which sub-paragraph (2) applies,
is to be taken to be for a consideration such that no gain or loss accrues to the person making the disposal.
(2) This sub-paragraph applies to a disposal if—
(a) it is made in accordance with provision contained in a transfer scheme by virtue of paragraph 5 or 11 of Schedule 12 to this Act,
(b) the person making the disposal is a taxable public body,
(c) the person to whom the disposal is made is an exempt public body, and
(d) each of those persons is either the transferor or a transferee under the scheme.