Taxation of Chargeable Gains Act 1992 section 52

Supplemental

Section 52 sets out supplementary rules that apply when computing chargeable gains, covering the prevention of double deductions, the treatment of income tax references, the approach to apportionments, and the definition of capital and renewals allowances.

• No deduction may be claimed more than once in computing a chargeable gain — a sum cannot be deducted twice, nor can the same economic cost be deducted under two different headings
• Amounts treated as receipts or expenditure for income tax purposes are also recognised for capital gains purposes, even where the underlying trade or activity is not actually subject to income tax or where losses are not allowable
• Where consideration or expenditure needs to be split or apportioned for the purposes of a gain computation, the method used must be just and reasonable
• The terms "capital allowance" and "renewals allowance" take their meanings from section 41, and references to capital allowances throughout the chapter include structures and buildings allowances under Part 2A of the Capital Allowances Act 2001