Commentary

D8.153 Computation of income gain

Corporate tax
Corporate tax | Commentary

D8.153 Computation of income gain

Corporate tax | Commentary

D8.153 Computation of income gain

The income gain is calculated both for individuals and corporate investors in accordance with the usual provisions contained in TCGA 1992, although for corporate investors no account is taken of any indexation allowance1. If the calculation produces a loss, the gain is nil (ie a loss cannot accrue on a disposal of units in a FINROF)2.

The general rule is modified in the following situations:

  1.  

    (a)     on the death of the investor, the gain is not wiped out. Instead where a person dies holding units in a FINROF they are deemed to be disposed of by

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