Taxation of Chargeable Gains Act 1992 Schedule 2 paragraphs 2–3

Restriction of gain or loss by reference to actual cost

Section Schedule 2 paragraphs 2 and 3 deal with the "kink test" — a comparison between the gain or loss calculated using the deemed 6 April 1965 market value and the gain or loss calculated using the original actual cost, to ensure the taxpayer is not disadvantaged by the rebasing assumption.