Commentary

D7.627 Union or amalgamation of societies

Corporate tax
Corporate tax | Commentary

D7.627 Union or amalgamation of societies

Corporate tax | Commentary

D7.627 Union or amalgamation of societies

If one registered society transfers its assets to another in the course of union or amalgamation, the transfer is deemed for capital gains purposes to have been made for such a consideration as gives rise to neither a gain nor a loss1. Where the transfer took place after 31 March 1982 and there had been no previous disposal of the assets (other than at no gain/no loss) since that date, the rebasing rules of TCGA 1992, s 35 will apply if the transferee society subsequently disposes of the assets after 5 April 1988 (other

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