7(1)For the purposes of [F1 paragraph 6 ] the “relevant assumptions” are—U.K.
(a)that the vulnerable person is resident and domiciled in the United Kingdom throughout the tax year, and
(b)that he has given a notice under subsection (2A) of section 16 of TCGA 1992 (computation of losses) in respect of each loss accruing to him in the tax year which by virtue of subsection (3) of that section would not be an allowable loss (but for the assumption in paragraph (a)).
(2)But the relevant assumption in sub-paragraph (1)(a) does not apply for the purposes of section 10A of TCGA 1992 (temporary non-residents).
Textual Amendments
F1Words in Sch. 1 para. 7(1) substituted (with effect in accordance with Sch. 2 para. 22 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 20(4)