# Finance Act 2022, Paragraph 19: Adjustment of gains to avoid double charge

Extent: E+W+S+N.I.

Where—
(a) a chargeable gain (the “relevant gain”) accrues to a company on a deemed sale of qualifying shares as a result of paragraph 17(2), and
(b) the value of those shares reflects the value of an asset in respect of which a chargeable gain (“the underlying gain”) accrues, or would accrue if paragraph 18 were ignored, to another company as a result of paragraph 17(2) on the same day as, or before, the relevant gain accrued,
the relevant gain is to be reduced (on a just and reasonable basis and not to below nil) by an amount reflecting the amount of the underlying gain.

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Source: https://www.legislation.gov.uk/ukpga/2022/3/schedule/2/paragraph/19 (the official version)
Page: https://openlegislation.uk/finance-act-2022/schedule-2/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.