Related Commentary  Related HMRC Manuals

478(1)  The taxable amount for the purposes of section 476 (charge on occurrence of chargeable event) is–

AG − DA

where–

AG is the amount of any gain realised on the occurrence of the chargeable event, and

DA is the total of any deductible amounts.

478(2)  Section 479 explains what is the amount of any gain realised on the occurrence of a chargeable event.

478(3)  Section 480 specifies what are deductible amounts.

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