{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4AA/paragraph-20",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4AA/paragraph-20.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "schedule/4AA/paragraph/20",
  "kind": "paragraph",
  "number": "20",
  "heading": null,
  "text": "(1) This paragraph applies if, in calculating a gain or loss accruing to a person in a case where paragraph 3, 7 or 13 is applicable, it is to be assumed that the asset disposed of was acquired on a particular date for a consideration equal to its market value on that date.\n(2) For the purposes of that calculation—\n(a) section 41 (restriction of losses by reference to capital allowances and renewals allowances), and\n(b) section 47 (wasting assets qualifying for capital allowances),\nare to apply in relation to any allowance made in respect of the expenditure actually incurred in acquiring or providing the asset as if it were made in respect of the expenditure assumed to have been incurred.\n(3) In this paragraph “allowance” means any capital allowance or renewals allowance.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/4AA/paragraph/20",
    "retrieved_at": "2026-11-14T03:34:05.925206+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}