Related Commentary  Related HMRC Manuals

213(1)  Any chargeable gains or allowable losses which would otherwise accrue on disposals deemed by virtue of section 212 to have been made at the end of a company’s accounting period shall be treated as not accruing to it, but instead–

(a)there shall be ascertained the difference (“the net amount” ) between the aggregate of those gains and the aggregate of those losses, and

(b)one-seventh of the net amount shall be treated as a chargeable gain or, where it represents an excess of losses over gains, as an allowable loss accruing to the company at the end of the accounting period, and

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