[F14BDeduction of losses etc in most beneficial wayU.K.
(1)This section applies if the gains accruing to a person in a tax year are (apart from this section) chargeable to capital gains tax at different rates.
(2)Allowable losses may be deducted from those gains, and the exempt amount under section 3 may be used in respect of those gains, in such way as is most beneficial to that person.
(3)Subsection (2) is subject to any enactment which contains a limitation on the gains from which allowable losses may be deducted.]
Textual Amendments
F1S. 4B inserted (with effect in accordance with Sch. 1 para. 13 of the amending Act) by Finance (No. 2) Act 2010 (c. 31), Sch. 1 para. 3