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HMRC internal manual

Capital Gains Manual

Chattels: sets of assets: disposals in more than one year


In addition to splitting up a set and disposing of the assets separately (see CG76631), you may come across cases where the disposals themselves are spread over more than one year of assessment (or accounting period).

Again TCGA92/S262(4) will counter this if the conditions in CG76631 are satisfied.

If this has happened, the various disposals are treated as though they were a disposal of one asset and only one £6,000 limit is allowed, see CG76631.

When you come to assess any gains, however, you apportion these between the various years of assessment in the same ratio as the proportion of the total sale proceeds applicable to each year.

There is an example of this in CG76638.