Paragraph 2 F1
United Kingdom
For any year of assessment during which a married woman is living with her husband F2subsections (1) and (4) shall apply to them as if F3the exempt amount for the year were divided between them—
in proportion to their respective taxable amounts for that year (disregarding for this purpose paragraphs (a) and (b) of subsection (4)), or
where the aggregate of those amounts does not exceed F4the exempt amount for the year and allowable losses accruing to either of them in a previous year are carried forward from that year, in such other proportion as they may agree.
Sub-paragraph (1) above shall also apply for any year of assessment during a part of which (being a part beginning with 6th April) a married woman is living with her husband but—
her taxable amount for that year shall not include chargeable gains or allowable losses accruing to her in the remainder of the year, and
F5subsections (1) and (4) shall apply to her (without the modification in sub-paragraph (1) above) for the remainder of the year as if it were a separate year of assessment.
Annotations
Textual amendments
- F1
Sch. 1 paras. 2, 3 repealed by Finance Act 1988 (c. 39, SIF 63;1, 2), s. 148 and Sch. 14 Pt. VIII from 1990–91
- F2
Words substituted by Finance Act 1980 (c. 48, SIF 63:1), s. 77(4)(b) for 1980–81 et seq.
- F3
Words substituted by Finance Act 1982 (c. 39, SIF 63:2), s. 80(3) for 1982–83 et seq.
- F4
Words substituted by Finance Act 1982 (c. 39, SIF 63:2), s. 80(3)(a) for 1982–83 et seq.
- F5
Words substituted by Finance Act 1980 (c. 48, SIF 63:1), s. 77(4)(c) for 1980–81 et seq.
Notes on the whole Act
Textual amendments
- F1
Act repealed (6.3.1992 with effect as mentioned in s. 289(1)(2) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with s. 201(3), Sch. 11 paras. 20, 22, 26(2), 27 and with saving in Sch. 11 para. 24(2)) and subject to an amendment (prosp.) by Museum and Galleries Act 1992 (c. 44), s. 11(2), Sch. 8 Pt. I para. 1(1)(2)(7), and amendments by: Disability Living Allowance and Disability Working Allowance Act 1991 (c. 21), s. 4(2), Sch. 2 para. 9(1)(2) (in force 6.4.1992 by S.I. 1991/2617, art. 2(f)); S.I. 1991/2874, art. 2 (in force 6.4.1992 by S.R. 1992/94, art. 2); Social Security (Consequential Provisions) Act 1992 (c. 6), s. 4, Sch. 2 para. 52(a)(b) (in force 1.7.1992 by s. 7(2) of the amending Act); Social Security (Consequential Provisions) (Northern Ireland) Act 1992 (c. 9), s. 4, Sch. 2 para. 20(a)(b) (in force 1.7.1992 by s. 7(2) of the amending Act); Finance (No. 2) Act 1992 (c. 48), ss. 35(2), 47, 48, 56, 77, Sch. 9 para. 20(1)(inserting ss. 143A and 143B), Sch. 17 paras. 3, 6(2)(5), 7, (the amendments coming into force 16.7.1992 except for the amendment by s. 56, Sch. 9 para. 20(1) which comes into force on 19.2.1993 by S.I. 1993/236, art. 2); and amendments (retrospective to 1.1.1992) by ss. 35(2), 47, 48 of the same 1992 Act, and amendments (27.7.1993 with effect as mentioned in ss. 84(3), 86(4), 88(4), 105(4) of the amending Act) by 1993 c. 34, ss. 84(3), 86(4), 88(4)(a)(b), 105(3)(4)
Notes on Schedule 1
Textual amendments
- F1
Heading substituted by Finance Act 1982 (c. 39, SIF 63:2), s. 80(3) for 1982–83 et seq.