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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Targeted anti-gain buying rule - definition of pre-change asset

A “pre-change asset” is defined as an asset owned by the relevant company before the change of ownership. There are specific rules to ensure the continuity of identification of a pre-change asset where gains and losses on such assets are deferred or rolled over by virtue of the application of various other provisions in TCGA 1992.