# The Individual Savings Account Regulations 1998, Regulation 34A: Capital gains tax–administration-period investment


For the purposes of capital gains tax—
(a) on the occasion when title to an administration-period investment is transferred from the personal representatives to a legatee, the legatee is to be treated as having acquired the investment on the date of transfer and for a consideration equal to its market value on such date; and
(b) on the occasion when title to an investment is transferred from the personal representatives to a legatee after the end of the period in respect of which it was an administration-period investment, there shall be deemed to be a disposal and reacquisition by the personal representatives of that investment at the end of that period and for a consideration equal to its market value at such time and the legatee is to be treated as having acquired the investment for such consideration on the date of transfer.

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Source: https://www.legislation.gov.uk/uksi/1998/1870/regulation/34A (the official version)
Page: https://openlegislation.uk/individual-savings-account-regulations-1998/regulation-34A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.