TCGA92/S35 (5)

For gains on disposals on or after 6 April 2008 that are charged to capital gains tax the use of 31 March 1982 value in computing gains on assets held at that date is mandatory. Therefore the following guidance on elections now only applies to disposals by companies that pay corporation tax on their chargeable gains.

For disposals on or after 6 April 1988 of assets held on 31 March 1982, a company can elect under TCGA92/S35 (5) to have gains and losses on all assets covered by the election computed by reference to 31 March 1982 values alone, that is without the restrictions imposed by the kink test. But

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