Version Superseded: 21/08/1998
Point in time view as at 03/05/1994. This version of this provision has been superseded.
Taxation of Chargeable Gains Act 1992, Section 114 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)If, in a case where section 110(8)(b) applies, the increase in the qualifying expenditure is, in whole or in part, attributable to the cost of acquiring an option binding the grantor to sell (“the option consideration”), then, in addition to any increase under section 110(8)(a) or (b), the indexed pool of expenditure shall be increased by an amount equal to the indexed rise in the option consideration, as determined under subsection (2) below.
(2)The indexed rise in the option consideration is a sum produced by multiplying the consideration by a figure expressed as a decimal and determined, subject to subsection (3) below, by the formula—
where—
RO is the retail prices index for the month in which falls the date on which the option is exercised; and
RA is the retail prices index for the month in which falls the date in which the option was acquired or, if it is later, March 1982.
(3)If RO, as defined in subsection (2) above, is equal to or less than RA, as so defined, the indexed rise is nil.
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