CG46110 - Groups: indexation on no gain/loss disposals: assets held on 31/3/82

TCGA92/S55 (5) & (6)

Indexation is calculated on 31 March 1982 market value in the following circumstances.

• There is a disposal before 6 April 1988 of an asset held on 31 March 1982, and the taxpayer makes a claim under Section 68(5) FA1985 before amendment by FA88/SCH8/PARA11.
• There is a disposal on or after 6 April 1988 of an asset held on 31 March 1982. And either there has been an election out of the rebasing kink test, see CG46300, or the indexation calculated by reference to 31 March 1982 market value is greater than the indexation calculated by reference to historic cost, TCGA92/S55 (2).