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Taxation of Chargeable Gains Act 1992

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Changes over time for: Cross Heading: Election for retrospective basis of calculation

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Changes to legislation:

Taxation of Chargeable Gains Act 1992, Cross Heading: Election for retrospective basis of calculation is up to date with all changes known to be in force on or before 28 February 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. Help about Changes to Legislation

[F1Election for retrospective basis of calculationU.K.

Textual Amendments

F1Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17

4(1)The person may make an election under this paragraph for the assumption that the asset is sold and reacquired as mentioned in paragraph 3 not to apply.U.K.

(2)If, in the case of an indirect disposal of UK land—

(a)a person makes an election under this paragraph, and

(b)a loss accrues on the disposal,

the loss is not an allowable loss.]

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