- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (17/12/2020)
- Gwreiddiol (Fel y'i Deddfwyd)
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Finance Act 1994, Paragraph 4 is up to date with all changes known to be in force on or before 10 September 2024. 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.
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4(1)Where in the case of any taxpayer—U.K.
(a)there is a relevant gain for the year 1993-94,
(b)the relevant gain exceeds the exempt amount for that year, and
(c)there are indexation losses in respect of any disposals made in that year,
then, for the purposes of the 1992 Act, the amount by which the total amount of chargeable gains accruing to the taxpayer in that year exceeds the allowable losses accruing in the year shall be reduced by the amount mentioned in sub-paragraph (2) below, and shall be so reduced before the deduction of any allowable losses carried forward from any previous year or carried back under section 62 from any subsequent year.
(2)The amount referred to in sub-paragraph (1) above is so much of the total of indexation losses in respect of disposals made in that year as does not exceed—
(a)£10,000, or
(b)the amount by which the relevant gain exceeds the exempt amount for the year,
whichever is the smaller.
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