Taxation of Chargeable Gains Act 1992 section Sch 4ZZB paras 22-23

Special rules for companies

Schedule 4ZZB paragraphs 22–23 set out special rules that apply when calculating chargeable gains or allowable losses for companies, modifying the standard computational rules to reflect the particular way in which companies are taxed on their capital gains.

• These paragraphs provide bespoke adjustments to the computation of gains and losses specifically for corporate entities, recognising that companies are subject to corporation tax rather than capital gains tax.
• The rules modify the general rebasing and computational provisions elsewhere in Schedule 4ZZB so that they operate correctly in a corporate context.
• Companies must apply these special provisions in priority to the default rules when calculating their chargeable gains or allowable losses on relevant disposals.
• The provisions were introduced by Finance Act 2019, Schedule 1, paragraph 19, as part of the wider reforms to the taxation of chargeable gains.