Introduction Details of the Section
5.Subsection (3) inserts subsections (4A) and (4B) into section 171A TCGA 1992.
6.Subsection (4A) provides that an election cannot be made to transfer a ring fence chargeable gain from a company carrying on a ring fence trade to a company not carrying on a ring fence trade.
7.Subsection (4B) provides the definitions of “ring fence chargeable gain” and “ring fence trade”.