2In section 2 (persons and gains chargeable to capital gains tax), after subsection (3) there shall be inserted the following subsections—
“(4)Where any amount is treated by virtue of any of sections 77, 86, 87 and 89(2) (read, where applicable, with section 10A) as an amount of chargeable gains accruing to any person in any year of assessment—
(a)that amount shall be disregarded for the purposes of subsection (2) above; and
(b)the amount on which that person shall be charged to capital gains tax for that year (instead of being the amount given by that subsection) shall be the sum of the amounts specified in subsection (5) below.
(5)Those amounts are—
(a)the amount which after—
(i)making any deductions for which subsection (2) provides, and
(ii)applying any reduction in respect of taper relief under section 2A,
is the amount given for the year of assessment by the application of that subsection in accordance with subsection (4)(a) above; and
(b)every amount which is treated by virtue of sections 77, 86, 87 and 89(2) (read, where applicable, with section 10A) as an amount of chargeable gains accruing to the person in question in that year.”