If, in the course of or as part of an amalgamation of 2 or more building societies or a transfer of engagements from one building society to another, there is a disposal of an asset by one society to another, both shall be treated for the purposes of corporation tax on chargeable gains as if the asset were acquired from the one making the disposal for a consideration of such amount as would secure that on the disposal neither a gain nor a loss would accrue to the one making the disposal.
Section 215: Disposal of assets on amalgamation of building societies etc.
Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk
Part VI: Companies, oil, insurance etc. — Chapter IV: Miscellaneous cases
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