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HMRC internal manual

Capital Gains Manual

Indexation: from 6/4/88 valuation

Where, on the disposal of an asset, indexation falls to be computed by reference to the value as at 31 March 1982, or some other date, the instructions at CG16200+ must be meticulously observed. Some latitude was allowed in the case of disposals of land between 1985 and 1988 where an election under FA85/S68 (5) has been made, seeCG74102. Otherwise no latitude is permitted except as specifically indicated at CG74102.

Failure to observe the instructions on valuation can lead to serious difficulties where there are several taxpayers involved who are treated in different ways.