Commentary

C1.214 Liquidators

Capital gains tax
Capital gains tax | Commentary

C1.214 Liquidators

Capital gains tax | Commentary

C1.214 Liquidators

There is no disposal of assets by a company on the appointment of a liquidator1. A receiver or manager appointed to control the affairs of a company should be treated in the same way as a liquidator even though that person may be a receiver for creditors or debenture holders2.

There is no disposal because the liquidator is treated for all chargeable gains purposes as a nominee or bare trustee for the company (see C1.203)3.

As the liquidator acts as a nominee, where assets are subject to disposal during a liquidation, the company is chargeable on any gains accruing on

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