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Section 261E: Meaning of "the maximum amount" for purposes of section 261D

Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk

Part VII: Other property, businesses, investments etc.

For the purposes of section 261D "the maximum amount" is the amount on which the person would be chargeable to capital gains tax for the year of assessment if the following were ignored.

The matters to be ignored are—

any allowable losses falling to be carried forward to that year from a previous year for the purposes of section 1(3),
section 1K(1) (annual exempt amount), and
any relief under section 261B or 261D.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.