Commentary

D1.902 Payment of tax on companies' chargeable gains

Corporate tax
Corporate tax | Commentary

D1.902 Payment of tax on companies' chargeable gains

Corporate tax | Commentary

D1.902 Payment of tax on companies' chargeable gains

Gains chargeable to corporation tax

For gains chargeable to corporation tax, the rule is that gains and losses are charged in the accounting period in which the disposal is, under normal capital gains tax principles, treated as taking place1. A company not otherwise within the charge to corporation tax will come within the charge on making a disposal giving rise to chargeable gains or allowable losses2.

The date of disposal of an asset is the date of the contract, where the contract is unconditional3. Where a contract is conditional, the date of disposal is the date on which the condition is fulfilled and the contract

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