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HMRC internal manual

Capital Gains Manual

Capital sums derived from assets: section 22(2) TCGA 1992: time of disposal

Section 22(2) TCGA 1992 provides that the time of disposal is the time when the capital sum was received if the capital sum was received in any of the circumstances described in section 22(1)(a) - (d), see CG12948 - CG12955.

In cases where a capital sum falls within the general wording of section 22(1), see CG12945, the time of disposal will be determined by reference to the rules in section 28 TCGA 1992, see CG14260+, if it was received under the terms of a contract for the acquisition or disposal of an asset.