Commentary

C2.610 The general scheme

Capital gains tax
Capital gains tax | Commentary

C2.610 The general scheme

Capital gains tax | Commentary

Assets held on 6 April 1965

C2.610 The general scheme

For the purposes of corporation tax on chargeable gains, assets held on 6 April 1965 (the original base date for the purposes of capital gains tax) are still subject to special provisions described in this and subsequent articles. For capital gains tax purposes, the provisions apply only in relation to disposals before 6 April 2008. For disposals on or after that date, the general re-basing rule for assets held on 31 March 1982 applies automatically without exception for capital gains tax purposes (see C2.601), so that special rules for assets held on 6 April 1965 are no longer required1.

The purpose of the special provisions was to exclude from charge gains accrued but unrealised on that date, ie 6 April 19652. Although for

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