Section 81 Increase of chattel exemption.
(1)
F1In the following enactments, namely,—
(a)
section 128 of the Capital Gains Tax Act 1979 (chattel exemption by reference to consideration of £2,000),
(b)
section 12(2)(b) of the M1Taxes Management Act 1970 (information about assets acquired), and
(c)
section 25(7) of that Act (information about assets disposed of),
for “£2,000”, in each case where it occurs, there shall be substituted “ £3,000 ”.
(2)
This section applies to disposals on or after 6th April 1982 and, accordingly, in relation to subsection (1)(b) above, to assets acquired on or after that date.
Annotations
Textual amendments
- F1
S. 81 repealed by Finance Act 1989 (c. 26), s. 187 and Sch. 17 Pt. VII in relation to disposals on or after 6 April 1989 (and s. 81(1)(b) repealed in relation to assets acquired on or after 6 April 1989)
Marginal citations
- M1