CG15500 - Introduction and computation: computation: assets held on 6 April 1965
Source: gov.uk (2025-09-17)


TCGA92/S35

Special rules applied to assets that were held when CGT and corporation tax on chargeable gains were first introduced on 6 April 1965. Such assets that were still held at 31 March 1982 were necessarily subject to the rules for rebasing to their value at the later date.

Capital Gains Tax

For CGT purposes the 31 March 1982 value will be used for any disposal from 6 April 2008, so the rules for assets that were held at 6 April 1965 are no longer relevant.

Corporation tax

It is still possible that the rules will apply for corporation tax purposes in certain situations. This is because the original March 1982 rebasing rules still apply where a company has made a rebasing election under TCGA92/S35(5). The March 1982 rebasing rules are at CG16700+
- If a rebasing election had been made under TCGA92/S35 (5), see CG16760+.
- If not, then two computations of the gain or loss arising have to be made for the purposes of the kink test, see CG16730+.
The rules for assets held at 6 April 1965 will therefore still be relevant if a company that has not made an election disposes of an asset that it has held since that date because it may affect the result of the kink test.

How to find the detailed guidance

The detailed guidance was archived in October 2019 but can be found in versions of the manual from before that date held in the National Archives.

The archived guidance is arranged as shown below

CG15500

Assets held on 6/4/65:

CG15501

Assets held on 6/4/65: introduction

CG15510

Assets held on 6/4/65: capital allowances

CG15520

Assets held on 6/4/65: historical cost

CG15525

Assets held on 6/4/65: election for valuation on 6/4/65 irrevocable

CG15526

Assets held on 6/4/65: submission to valuer

CG15527

Assets held on 6/4/65: formal election

CG15529

Assets held on 6/4/65: late elections

CG15530

Assets held on 6/4/65: charge under TCGA92 S178

CG15531

Assets held on 6/4/65: restriction of losses

CG15532

Assets held on 6/4/65: part-disposals

CG15550

Assets held on 6/4/65: land with development value

CG15570

Assets held on 6/4/65: time-apportionment formula

CG15572

Assets held on 6/4/65: time-apportionment formula: example

CG15573

Assets held on 6/4/65: additional expenditure

CG15574

Assets held on 6/4/65: relevant date

CG15575

Assets held on 6/4/65: relevant date: example

CG15576

Assets held on 6/4/65: alternative apportionment of overall gain

CG15577

Assets held on 6/4/65: alternative apportionment of overall gain: example

CG15578

Assets held on 6/4/65: limit of period of apportionment

CG15579

Assets held on 6/4/65: additional expenditure after 5/4/65

CG15585

Assets held on 6/4/65: transferred to close companies

CG15590

Assets held on 6/4/65: part-disposal before 6/4/65

CG15600

Assets held on 6/4/65: part-disposals after 5/4/65

CG15601

Assets held on 6/4/65: part-disposals after 5/4/65: example

CG15602

Assets held on 6/4/65: part-disposals after 5/4/65: example

CG15603

Assets held on 6/4/65: part-disposals after 5/4/65: example

CG15610

Assets held on 6/4/65: only or main residence

CG15611

Assets held on 6/4/65: asset derived from another asset

CG15612

Assets held on 6/4/65: asset derived from another asset: example

CG15620

Assets held on 6/4/65: asset acquired under an option