# Taxation of Chargeable Gains Act 1992, Paragraph 3


(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).

---
Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/4AA/paragraph/3 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4AA/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.