32 Restrictions on companies buying losses or gains: tax avoidance schemes
Finance Act 2007 (2007 c 11) | Legislation

32  Restrictions on companies buying losses or gains: tax avoidance schemes

(1)     TCGA 1992 is amended as follows.

(2)     In section 184A(2) (losses accruing on disposals of pre-change assets not deductible from gains unless gains accrue on disposals of pre-change assets), omit “unless the gains accrue to the company on a disposal of a pre-change asset”.

(3)     In section 184B(2) (losses not deductible from gains accruing on disposals of pre-change assets unless losses accrue on disposals of pre-change assets), omit “unless the loss accrues to the company on a disposal of a pre-change asset”.

(4)     Section 70 of FA 2006 (which inserted sections 184A to 184F of TCGA 1992) is amended as follows.

(5)     In subsection (9) (special provision for

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