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HMRC internal manual

Capital Gains Manual

Rebasing for companies: halving relief for deferred gains pre-31/3/82: list of specified postponed charges


In Example 1 at CG17002 suppose that C Ltd reinvested the proceeds in 1987 in a depreciating asset and made a claim under CGTA79/S117 (2) instead of Section 115.

The postponed charge will crystallise in 1993 when the replacement asset is sold, but only half the postponed charge is actually charged if relief is claimed under TCGA92/SCH4.