{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4B/paragraph-11",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4B/paragraph-11.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/4B/paragraph/11",
  "kind": "paragraph",
  "number": "11",
  "heading": null,
  "text": "(1) This paragraph provides for determining whether the deemed disposal and reacquisition is of the whole or a proportion of each of the remaining chargeable assets.\n(2) If the amount of value transferred—\n(a) is less than the amount of outstanding trustee borrowing, and\n(b) is also less than the effective value of the remaining chargeable assets,\nthe deemed disposal and reacquisition is of the proportion of each of the remaining chargeable assets given by:\nVTEVwhere—\nVT is the amount of value transferred, and\nEV is the effective value of the remaining chargeable assets.\n(3) If the amount of value transferred—\n(a) is not less than the amount of outstanding trustee borrowing, but\n(b) is less than the effective value of the remaining chargeable assets,\nthe deemed disposal and reacquisition is of the proportion of each of the remaining chargeable assets given by:\nTBEVwhere—\nTB is the amount of outstanding trustee borrowing, and\nEV is the effective value of the remaining chargeable assets.\n(4) In any other case the deemed disposal and reacquisition is of the whole of each of the remaining chargeable assets.\n(5) For the purposes of this paragraph the effective value of the remaining chargeable assets means the aggregate market value of those assets reduced by so much of that value as is attributable to trustee borrowing.\n(6) References in this paragraph to amounts or values, except in relation to the amount of value transferred, are to amounts or values immediately after the material time.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 4B inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(2), Sch. 25"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/4B/paragraph/11",
    "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."
}