[110 Indexation for section 104 holdings for corporation tax]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[110  Indexation for section 104 holdings for corporation tax]

(1)     [For the purposes of corporation tax this] section and section 114—

(a)     apply in place of section 54 in relation to a disposal of a [section 104 holding] for the purpose of computing the indexation allowance;

(b)     have effect subject to [section 105].

(2)     On any disposal of a [section 104 holding], other than a disposal of the whole of it—

(a)     the qualifying expenditure and the indexed pool of expenditure shall each be apportioned between the part disposed of and the remainder in the same proportions as, under this Act, the relevant allowable expenditure is apportioned; and

(b)     the indexation allowance is the amount by which the portion of the indexed pool which is attributed to the part disposed of exceeds the portion of the qualifying expenditure which is attributed to that part.

(3)     On a disposal of the whole of a [section 104 holding], the indexation allowance is the amount by which the indexed pool of expenditure at the time of the disposal exceeds the qualifying expenditure at that time.

(4)     In relation to a [section 104 holding], the qualifying expenditure is at any time the amount

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