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

HMRC internal manual

Capital Gains Manual

Leases: merger: indexation allowance: disposals pre-29/6/92

Under TCGA92/S54 (4)(a) allowable expenditure on the acquisition of an asset is assumed to have been incurred at the time when the asset was acquired or provided. In cases involving the merger of leases the asset in question is the superior interest and in strictness indexation runs on the whole of the allowable expenditure only from the date of acquisition of the superior interest.