5In section 62 (general provisions about death), the following subsections shall be inserted after subsection (2)—
“(2A)Amounts deductible from chargeable gains for any year in accordance with subsection (2) above shall not be so deductible from any such gains so far as they are gains that are brought into account for that year by virtue of section 2(5)(b).
(2B)Where deductions under subsection (2) above fall to be made from the chargeable gains for any year, the provisions of this Act relating to taper relief shall have effect as if those deductions were deductions under section 2(2)(a) and (b) and, accordingly, as if—
(a)those deductions were to be made (before the application of the relief) in computing for that year the excess (if any) mentioned in section 2A(1); and
(b)for the purpose of determining the gains represented in that excess, the gains for that year from which those deductions are treated as made were to be ascertained in accordance with section 2A(6).”