Paragraph 15 F1
Where an interest in land is under subsection (1) of the principal section or sub-paragraph (3) of paragraph 2 of this Schedule deemed to have been disposed of, the consideration for which the disposal is deemed to have been made shall for the purposes of [the Capital Gains Tax Act 1979 F2] be disregarded if, had it been actually paid, it would under [section 31 of that Act] fall to be excluded from the consideration for the disposal taken into account in the computation under [Chapter II of Part II of that Act] of the gain accruing on the disposal.
Annotations
Textual amendments
- F1
Sch. 9 repealed by Finance Act 1985 (c. 54, SIF 63:1), s. 98(6)and Sch. 27 Part Xin relation to disposals of interests in land taking place on or after 19March Finance Act 1985 (c. 54, SIF 63:1),but without affecting the construction of 1979 (C) Sch.5 para. 9(5).
- F2
Capital Gains Tax Act 1979 (c. 14, SIF 63:1), s. 157(2)and Sch. 7 paras. 8and 9for 1979-80et seq.