# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 85Z2: Earlier disposal to which the no gain/no loss basis applies


(1) This regulation applies if—
(a) a participant is chargeable to corporation tax, and
(b) the amount of any chargeable gain or allowable loss which would arise on the disposal would fall to be computed in a way which, in whole or in part, would take account of the indexation allowance on an earlier disposal to which section 56(2) of TCGA 1992 (disposals on a no gain/no loss basis) applies.
(2) The basic gain on the disposal is computed as if—
(a) no indexation allowance had been available on any such earlier disposal, and
(b) subject to that, neither a gain nor a loss had arisen to the person making such an earlier disposal.

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Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/85Z2 (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-85Z2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.