Commentary

C2.222 Assets acquired on disposal chargeable under Schedule D Case VII (short term gains)

Capital gains tax
Capital gains tax | Commentary

C2.222 Assets acquired on disposal chargeable under Schedule D Case VII (short term gains)

Capital gains tax | Commentary

C2.222 Assets acquired on disposal chargeable under Schedule D Case VII (short term gains)

Where an asset was acquired as a result of a disposal chargeable before 6 April 1971 to income tax on short term gains under former Schedule D Case VII, the acquisition cost for chargeable gains purposes cannot exceed the amount of the disposal proceeds taken into account for Schedule D Case VII1.

For background on the taxation of short term gains under Schedule D Case VII, see CG10220.

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial