Section 43 Special rates of charge for development gains accruing to trustees, personal representatives or unit trust schemes.
Income arising in a year of assessment by virtue of section 38(2) of this Act to trustees or to the personal representatives of a deceased person as such or to an unauthorised unit trust shall (unless chargeable to income tax under any of the following provisions of this section) be chargeable to income tax at a rate equal to the sum of the basic rate and the additional rateF1for that year.F2. . .
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Annotations
Textual amendments
- F1
See Finance Act 1984 (c. 43, SIF 63:1), s. 17(3)—additional rate of 15per cent. for Finance Act 1984 (c. 43, SIF 63:1), -85.
- F2
Words repealed by Finance Act 1984 (c. 43, SIF 63:1), ss. 17(2), 128(6), Sch. 7 paras. 3(4), 23, Sch. 7 Part VI
- F3
S. 43(2) repealed by 1980 s.122and Sch.20 Part Xwith effect in relation to disposals after 31March 1980.)
Notes on Part III
Textual amendments
- F1
Ss. 38–47 repealed Finance Act 1985 (c. 54, SIF 63:1), s. 98(6), Sch.27 Part X in relation to disposals of interests in land taking place on or after 19 March Finance Act 1985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 Capital Gains Tax Act 1979 (c. 14, SIF 63:1) Sch.5 para. 9(5).
Notes on Chapter I
Textual amendments
- F1
See— Development Land Tax Act 1976 (c. 24), s. 35—Development Land Tax—which terminates, subject to ss. 36, 37and 38(3),the taxation of development gains accruing on and after 1August 1976. Development Land Tax Act 1976 (c. 24),repealed by Finance Act 1985 (c. 54, SIF 63:1), ss. 93, 98(6)and Sch.27 Part X. Finance Act 1985 (c. 54, SIF 63:1), s. 93(6)—abolished with effect from 19March Finance Act 1985 (c. 54, SIF 63:1), .