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HMRC internal manual

Oil Taxation Manual

From
HM Revenue & Customs
Updated
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Capital Gains: Computational Points - Capital Allowances, loss restriction

The general rules at TCGA92\S55 extend the restriction of the March 1982 value by reference to any capital allowances made in respect of the cost.

The adjustment is made whether or not the consideration has a deemed nil value under TCGA92\S194(2).