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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Depreciatory intra-group asset transfers: asset identity rule

Cost is defined by TCGA92/S32 (3) as the aggregate of

  • any capital expenditure incurred by the company in acquiring or providing the asset, and
  • any other capital expenditure incurred by the company in respect of the asset while owned by the company.

Finance Act 2011 introduced a new Targeted Anti-Avoidance Rule for disposals of shares and securities by companies on or after 19 July 2011. See CG48500+.