Commentary

C2.608 Disposals after 5 April 1985 but before 6 April 1988

Capital gains tax
Capital gains tax | Commentary

C2.608 Disposals after 5 April 1985 but before 6 April 1988

Capital gains tax | Commentary

C2.608 Disposals after 5 April 1985 but before 6 April 1988

In computing the chargeable gain or allowable loss for assets held on 31 March 1982 and disposed of by the same taxpayer after 5 April 1985 (31 March 1985 for companies) but before 6 April 1988, no special provisions applied which substituted the value of the asset on 31 March 1982 for the amount of actual consideration1. The taxpayer could, however, elect to have the indexation allowance calculated by reference to the market value of the asset on 31 March 19822 instead of the expenditure incurred by him on

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