Regulation 2 Amendment to the Capital Gains Tax Regulations 1967

(1)

Regulation 15 of the Capital Gains Tax Regulations 1967^f1 is amended as follows.

(2)

For paragraph (b) substitute—

“(b)
A person shall not be treated as being at any date a person whose liability to capital gains tax may be affected by the market value of an asset or by the apportionment of any amount or value paid, payable or ascertained in connection with an asset unless on or before that date, but since 6th April 1965, there has been (or is deemed to have been) a disposal or acquisition of the asset by that person, or by personal representatives from whom they may acquire the asset as legatee, or by a company or trustees whose chargeable gains may to any extent be treated as accruing to that person under section 13 (attribution of gains to members of non-resident companies)^f2, 86 (attribution of gains to settlors with interest in non-resident or dual resident settlements)^f3 or 87 (non-UK resident settlements: attribution of gains to beneficiaries)^f4 of the Taxation of Chargeable Gains Act 1992.”

Annotations

Footnotes

f1: S.I. 1967/149; there are amending instruments but none are relevant.
f2: 1992 c. 12; section 13 has been amended by sections 174(1) to (9) and (11), 205 of, and Part V(30) of Schedule 41 to, the Finance Act 1996 (c. 8); sections 121(3) and 122(4) of, and paragraph 4 of Schedule 21 to, the Finance Act 1998 (c. 36); section 80 of the Finance Act 2001 (c. 9); section 141 of, and Part 3(16) of Schedule 40 to, the Finance Act 2002 (c. 23); section 155(1) of, and paragraphs 2(1) and (3) of Schedule 27 to, the Finance Act 2003 (c. 14); section 281(1) of, and paragraphs 38 and 39 of Schedule 35 to, the Finance Act 2004 (c. 12); section 88 of, and paragraphs 7, 8(1) of Part 3 of Schedule 12 to, the Finance Act 2006 (c. 25); section 8(2) of, and paragraphs 1, 4, 23 and 28 of Schedule 2, and section 25 of, and paragraph 103 of Part 2 of Schedule 7 to, the Finance Act 2008 (c. 9); section 1177 of, and paragraphs 225 and 227 of Part 2 of Schedule 1 to, the Corporation Tax Act 2010 (c. 4); sections 35(1) and (2) of the Finance Act 2012 (c. 14); and article 3(1) of, and paragraphs 177 and 178 of Schedule 1 to, 2009/56.
f3: Section 86 has been amended by section 121(3) of, and paragraph 6(2) of Schedule 21 to, the Finance Act 1998 (c. 36); section 141 of, and Part 3(4) of Schedule 40 to, the Finance Act 2002 (c. 23); section 88 of, and paragraphs 7, 30(1), 30(2)(b), 34(1), 34(2)(c), 35(1)(a) and (b), 35(2)(a) of Part 3 of Schedule 12 to, the Finance Act 2006 (c. 25); and section 8(2) of, and paragraphs 23 and 30 of Schedule 2 to, the Finance Act 2008 (c. 9).
f4: Section 87 has been amended by section 25 of, and paragraphs 106 and 108 of Schedule 7 to, the Finance Act 2008 (c. 9).