# Finance Act 2022, Paragraph 23: Adjustment of gains to avoid double charge on assets crossing the ringfence

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

Where—
(a) a chargeable gain (the “relevant gain”) accrues to a QAHC under paragraph 22(2) on a deemed sale of shares,
(b) the extent of that gain reflects the proceeds of a disposal of another asset in respect of which a chargeable gain (“the taxed gain”) has accrued to any person,
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 taxed gain.

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Source: https://www.legislation.gov.uk/ukpga/2022/3/schedule/2/paragraph/23 (the official version)
Page: https://openlegislation.uk/finance-act-2022/schedule-2/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.