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Taxation of Chargeable Gains Act 1992 Schedule 4AA paragraph 4
Election for retrospective basis of calculation
Section 4 allows a person to elect out of the 5 April 2019 rebasing rule, so that gains or losses are calculated by reference to the original acquisition cost rather than the market value on 5 April 2019, but any resulting loss on an indirect disposal of UK land is disallowed.
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