In Part 2, after Chapter 4 insert—

“CHAPTER 5Computation of gains and losses: relevant high value disposals

57AGains and losses on relevant high value disposals

(1)

Schedule 4ZZA makes provision about the computation of gains and losses on relevant high value disposals, including provision about whether a gain or loss is ATED-related or not.

(2)

But if the effect of Schedule 4ZZA applying in relation to a disposal would be that no ATED-related gain or loss accrues on the disposal, for the purposes of this Act the gain or loss on the disposal is to be computed ignoring that Schedule (and is not ATED-related).”