This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Capital Gains Manual

Assets held on 6/4/65: asset derived from another asset: example

In 1946 a farmer became tenant of his farm without making a capital payment on entry. In 1963 he purchased the farm which he sold in 1967.

The period of ownership for the purpose of the time-apportionment formula is taken as running from 1946 not 1963.