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HMRC internal manual

Capital Gains Manual

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

However, for disposals occurring before 29 June 1992, you should treat the cost of acquisition of the original lease (`wasted’ if appropriate) plus the cost of acquisition of the superior interest, as having been incurred on the date that the original lease was acquired.

The examples at CG71420 and CG71421 illustrate how this rule works in practice.