Commentary

C2.204 Assets acquired for deemed consideration

Capital gains tax
Capital gains tax | Commentary

C2.204 Assets acquired for deemed consideration

Capital gains tax | Commentary

C2.204 Assets acquired for deemed consideration

Where an asset is deemed to have been acquired for a consideration other than the actual consideration (if any), the deemed consideration is taken as allowable expenditure in relation to a disposal of the asset. Thus, if the disponor acquired the asset from his wife at a time when they were living together, the consideration deemed to pass would be such that neither a gain nor a loss accrued to the wife1, and this amount would be taken as the husband's allowable expenditure under TCGA 1992, s 38(1)(a). From 5 December 2005, this also

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