Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 25 March 2005 - onwards
  Version 4 of 4    

556. Adjustment of allowable expenditure by reference to consumer price index.

(1) In this section -

"the consumer price index number" means the All Items Consumer Price Index Number compiled by the Central Statistics Office;

"the consumer price index number relevant to any year of assessment" means the consumer price index number at the mid-November before the commencement of that year expressed on the basis that the consumer price index at mid-November, 1968, was 100.

(2)

(a) For the purposes of computing the chargeable gain accruing to a person on the disposal of an asset, each sum (in this section referred to as "deductible expenditure") allowable as a deduction from the consideration for the disposal under paragraphs (a) and (b) of section 552(1) shall be adjusted by multiplying it by the figure (in this section referred to as "the multiplier") specified in subsection (5), determined under subsection (6) or specified in subsection (6A), as the case may be.

(b) This subsection shall not apply in relation to deductible expenditure where the person making the d

Comparing proposed amendment...