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Capital gains: degrouping charge

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The government announced on 4 April its intention to amend Schedule 10 to the Finance Bill published on 31 March.

David Gauke, the Exchequer Secretary to the Treasury, said companies would be given the option to apply the new degrouping charge provisions to transactions occurring from 1 April 2011 rather than from the date of Royal Assent.

A technical note is available, and HMRC published updated draft guidance on 7 April.