Where a qualifying fund or qualifying company (see C2.1165) ceases to meet the conditions required for the exemption election as set out under TCGA 1992, Sch 5AAA, Pt 4, para 12(2), (3), the election ceases to have effect for disposals made on or after that date1.
A deemed disposal and reacquisition by the investors (including those that are UK resident) of their interests in the CIV (or company) will also generally be triggered but this is subject to the following exceptions2:
- Ìý
(a)ÌýÌýÌýÌý the period during which applicable exemption conditions are not met is temporary and does not exceed 30 days
- Ìý
(b)
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial
Web page updated on 24 Aug 2024 12:30