# Taxation of Chargeable Gains Act 1992, Paragraph 6


(1) Sub-paragraph (2) below applies where—
(a) a person makes a disposal of an asset which he acquired on or after 31st March 1982,
(b) the disposal by which he acquired the asset was a no gain/no loss disposal, and
(c) a deduction falling to be made as mentioned in paragraph (b) of sub-paragraph (1) of paragraph 2 above which was attributable as mentioned in paragraph (c) of that sub-paragraph was made—
(i) on that disposal, or
(ii) where one or more earlier no gain/no loss disposals of the asset have been made on or after 31st March 1982 and since the last disposal of the asset which was not a no gain/no loss disposal, on any such earlier disposal.
(2) Where this sub-paragraph applies the deduction shall be treated for the purposes of paragraph 2 above as falling to be made on the disposal mentioned in sub-paragraph (1)(a) above and not on the no gain/no loss disposal.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/4/paragraph/6 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.