Finance Act 2008, Paragraph 59 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
59U.K.After that section insert—
(1)This section applies for the purposes of capital gains tax in relation to a disposal of an asset if—
(a)the person making the disposal acquired the asset after 31 March 1982 and before 6 April 2008,
(b)the disposal by which the person acquired the asset (“the relevant disposal”), and any previous disposal of the asset after 31 March 1982, was a disposal on which, by virtue of any enactment, neither a gain nor a loss accrued to the person making the disposal, and
(c)section 35(2) did not apply to the relevant disposal.
(2)It is to be assumed that section 35(2) did apply to the relevant disposal (and that section 56(2) applied to the relevant disposal accordingly).”
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