Section 511: Method for making transaction-related calculations under section 510
2019.This section and the next set out the calculation required by section 510. This section is based on section 546C of ICTA.
2020.The calculation in these sections is designed to isolate, for each relevant transaction, the value of the transaction in question and how much of the premiums paid to the end of the insurance year in question is available to set against that value. The excess of that value over the available premium is the chargeable gain.