233 Chargeable event when replacement property owned
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

233  Chargeable event when replacement property owned

(1)     Subsection (3) below applies where—

(a)     paragraphs (a) to (c) of section 232(1) are fulfilled, and

(b)     the condition set out below is fulfilled.

(2)     The condition is that—

(a)     before the time when the chargeable event occurs, all the gain carried forward by virtue of section 229(1) or (3) was in turn carried forward from all the replacement assets to other property on a replacement of business assets, and

(b)     at the time the chargeable event occurs, the claimant or a person then connected with him is beneficially entitled to all the property.

(3)     In a case where this subsection applies, the claimant or connected person (as the case may be) shall be deemed for all purposes of this Act—

(a)     to have disposed of all the property immediately

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