Section 188 Limitation of loss on sale.

In any case where, apart from this section, the loss on sale of any investments—

(a)

in respect of which an amount has been paid in pursuance of a call as mentioned in section 182 above, or

(b)

which are sold as mentioned in section 183(5) above,

would exceed their value as determined apart from this Chapter, their sale value shall be treated for the purposes of sections 179(2) and 187 above as being of such an amount that the loss on sale would be equal to their value as so determined.

Notes on the whole Act

Textual amendments

F1: By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.