Version Superseded: 21/07/2008
Point in time view as at 06/04/1992.
Taxation of Chargeable Gains Act 1992, Paragraph 1 is up to date with all changes known to be in force on or before 07 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.
1(1)Where—U.K.
(a)a person makes a disposal, not being a no gain/no loss disposal, of an asset which he acquired after 31st March 1982, and
(b)the disposal by which he acquired the asset and any previous disposal of the asset after 31st March 1982 was a no gain/no loss disposal,
he shall be treated for the purposes of section 35 as having held the asset on 31st March 1982.
(2)For the purposes of this paragraph a no gain/no loss disposal is one on which by virtue of any of the enactments specified in section 35(3)(d) neither a gain nor a loss accrues to the person making the disposal.
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