175 Replacement of business assets by members of a group
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

175  Replacement of business assets by members of a group

(1)     Subject to subsection (2) below, for the purposes of sections 152 to 158 all the trades [to which this section applies] carried on by members of a group of companies shall, for the purposes of corporation tax on chargeable gains, be treated as a single trade . . ..

[(1A)     The trades to which this section applies are—

(a)     any trade carried on by a company that is resident in the United Kingdom, and

(b)     any trade carried on in the United Kingdom through a branch or agency by a company not so resident.]

(2)     Subsection (1) above does not apply where so much of the consideration for the disposal of the old assets as is applied in acquiring the new assets or the interest in them is so applied by a member of the group which is a dual resident investing company . . . and in this subsection “the old assets” and “the

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