http://www.legislation.gov.uk/ukpga/2005/7/schedule/1/paragraph/6/2008-07-10Finance Act 2005An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.texttext/xmlenStatute Law Database2024-11-12Expert Participation2008-07-10SCHEDULESSCHEDULE 1Non-UK resident vulnerable persons: interpretationAssumed gains and assumed losses6(1)

Assumed gains” means any chargeable gains, other than actual gains, which, on the relevant assumptions, would accrue to the vulnerable person and in respect of which, on those assumptions, he would be chargeable to capital gains tax for the tax year.

(2)

Assumed losses” means any allowable losses, other than actual losses, which, on the relevant assumptions, would accrue to the vulnerable person in the tax year.

(3)

In this paragraph “relevant assumptions” has the meaning given in paragraph 7.

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<num>SCHEDULE 1</num>
<heading>Non-UK resident vulnerable persons: interpretation</heading>
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<i>Assumed gains and assumed losses</i>
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<term refersTo="#term-assumed-gains" eId="term-assumed-gains">Assumed gains</term>
” means any chargeable gains, other than actual gains, which, on the relevant assumptions, would accrue to the vulnerable person and in respect of which, on those assumptions, he would be chargeable to capital gains tax for the tax year.
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<term refersTo="#term-assumed-losses" eId="term-assumed-losses">Assumed losses</term>
” means any allowable losses, other than actual losses, which, on the relevant assumptions, would accrue to the vulnerable person in the tax year.
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In this paragraph “
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” has the meaning given in paragraph 7.
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