{
  "url": "https://openlegislation.uk/finance-act-1974/schedule-8/paragraph-3",
  "json_url": "https://openlegislation.uk/finance-act-1974/schedule-8/paragraph-3.json",
  "legislation": "ukpga/1974/30",
  "legislation_title": "Finance Act 1974",
  "legislation_url": "https://openlegislation.uk/finance-act-1974",
  "path": "schedule/8/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "[Section 17 of the Capital Gains Tax Act 1979 ] (chargeable gains accruing to non-resident trusts) shall have effect in relation to development gains as it has effect in relation to chargeable gains, subject to the following modifications, that is to say—\n(a) in subsection (2), for the words “capital gains tax under [section 4(1) above ]” there shall be substituted the words “income tax by virtue of section 38(2) of the Finance Act 1974”; and\n(b) for the references to capital gains tax in subsections (4)(b) and (5) there shall be substituted references to income tax or corporation tax.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 8 repealed by Finance Act 1985 (c. 54, SIF 63:1), s. 98(6), Sch.27 Part X in relation to disposals of interests in land taking place on or after 19 March Finance Act 1985 (c. 54, SIF 63:1), but without affecting the construction of 1979 (C) Sch.5 para. 9(5)."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Capital Gains Tax Act 1979 (c. 14, SIF 63:1), s. 157(2)and Sch. 7 para. 9for 1979-80et seq."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1974/30/schedule/8/paragraph/3",
    "retrieved_at": "2026-10-29T10:44:42.487502+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}