CG45451 - Charge on companies leaving groups: exclusions: Investment Trusts and Venture Capital Trusts

TCGA92/S179 (2C) & (2D)

There is an exception from the degrouping charge for companies which leave a group owning assets to which either TCGA92/S101A (investment trusts) or TCGA92/S101C (Venture Capital Trusts) has applied. Those sections also impose a deemed market value disposal and reacquisition of the asset immediately after its transfer at no gain/no loss under TCGA92/S171(1). See CTM47000 onwards for more details on Section 101A and CG41520+ for Section 101C.