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Taxation of Chargeable Gains Act 1992
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- UK Public General Acts
- 1992 c. 12
- Part III
- Chapter 5
- Section 103KFE
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Changes to legislation:
Taxation of Chargeable Gains Act 1992, Section 103KFE is up to date with all changes known to be in force on or before 25 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.
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Changes and effects yet to be applied to Section 103KFE:
- Act applied by 2002 c. 23 Sch. 16 para. 48(1)(2)
- s. 4(10)(11) inserted by 2016 c. 11 s. 15(4)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
- Act applied by 2002 c. 23 Sch. 16 para. 48(1)(2)
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 4(10)(11) inserted by 2016 c. 11 s. 15(4)
[F1[F2103KFEAnti-avoidanceU.K.
(1)This section applies where an election was made by an individual under section 103KFA and the main purpose, or one of the main purposes, of making the election is to cause a loss to be treated as accruing to the individual under subsection (3) of section 103KFD.
(2)Any such loss that would (in the absence of this section) accrue to the individual under that subsection is to be counteracted by the making of such adjustments as are just and reasonable.
(3)Any adjustments required to be made under this section (whether or not by an officer of Revenue and Customs) may be made by way of—
(a)an assessment,
(b)the modification of an assessment, or
(c)amendment or disallowance of a claim, or otherwise.]]
Textual Amendments
F1Pt. 3 Ch. 5 inserted (with effect in accordance with s. 43(2)-(4) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 43(1)
F2Ss. 103KFA-103KFE inserted (with effect for the tax year 2022-23 and subsequent tax years) by Finance (No. 2) Act 2023 (c. 30), s. 42(2)(4)
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