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HMRC internal manual

Capital Gains Manual

Land: part-disposals: formula in TCGA92 S42

TCGA92/S42If a part-disposal of land occurred before the introduction of the practice in CG71850-71851, that is before 22 April 1971, it is still possible to apply that practice to subsequent part- disposals. In such cases, the original cost of the land should be increased by a suitable proportion of any additional expenditure and reduced by an appropriate part of any expenditure allowed on a previous part-disposal which was not a separately identifiable asset.