5(1)“Actual gains” means any chargeable gains which accrue to the vulnerable person and in respect of which he is chargeable to capital gains tax for the tax year.U.K.
(2)“Actual losses” means—
(a)any allowable losses accruing to the vulnerable person in the tax year, and
(b)so far as they have not been allowed as a deduction from chargeable gains accruing to him in any previous tax year, any allowable losses accruing to him in any previous tax year (not earlier than that beginning on 6th April 1965).