Where an asset is deemed to have been acquired for a consideration other than the actual consideration (if any), the deemed consideration is taken as allowable expenditure in relation to a disposal of the asset. Thus, for example if person A acquired the asset from their spouse or civil partner (person B) at a time when they were living together, the consideration deemed to pass would be such that neither a gain nor a loss accrued to B 1, and this amount would be taken as person A's allowable expenditure under TCGA 1992, s 38(1)(a). For transfers between spouses and civil partners see C2.110.
The consideration for the acquisition of an asset is deemed to be the market
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