Taxation of Chargeable Gains Act 1992 section 208

Premiums trust funds: indexation

Section 208 previously dealt with the indexation allowance applicable to assets held within Lloyd's premiums trust funds, but has been repealed for 1994 and later underwriting years.

• Section 208 originally provided rules for applying indexation allowances to chargeable gains arising on assets held in Lloyd's premiums trust funds.
• The section was repealed by the Finance Act 1993, section 213, Schedule 23, Part III(12).
• The repeal took effect for the 1994 underwriting year and all subsequent underwriting years.
• As a repealed provision, section 208 no longer has any practical application for current tax computations.