Paragraph 3 F1
(1)
In calculating the gain or loss accruing on the disposal it is be assumed that the asset was on 5 April 2019 sold by the person, and immediately reacquired by the person, at its market value on that date.
(2)
This paragraph has effect subject to any election made by the person under paragraph 4 (retrospective basis of calculation).
Annotations
Textual amendments
- F1
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