Taxation of Chargeable Gains Act 1992

[F1 Computation of balancing gains and loses U.K.

Textual Amendments

F1 Sch. 4ZZC inserted (with effect in accordance with s. 83(17) of the amending Act) by Finance Act 2016 (c. 24), Sch. 12 para. 5

5 U.K. The gain or loss accruing on the disposal which is not a residential property gain or loss is computed as follows.

• Step 1 In a case where there is a gain under Step 1 of paragraph 4(1), determine the amount of that gain remaining after the deduction of the residential property gain determined under that paragraph.

  That remaining gain is the gain accruing on the disposal which is not a residential property gain.

• Step 2 In a case where there is a loss under Step 1 of paragraph 4(1), determine the amount of that loss remaining after the deduction of the residential property loss determined under that paragraph.

  That remaining loss is the loss accruing on the disposal which is not a residential property loss.]