{
  "url": "https://openlegislation.uk/finance-act-1998/schedule-5/paragraph-63",
  "json_url": "https://openlegislation.uk/finance-act-1998/schedule-5/paragraph-63.json",
  "legislation": "ukpga/1998/36",
  "legislation_title": "Finance Act 1998",
  "legislation_url": "https://openlegislation.uk/finance-act-1998",
  "path": "schedule/5/paragraph/63",
  "kind": "paragraph",
  "number": "63",
  "heading": null,
  "text": "(1) Schedule 8 to the Taxation of Chargeable Gains Act 1992 (leases) is amended as follows.\n(2) In paragraph 5 (exclusion of premiums taxed under Schedule A, etc.)—\n(a) in sub-paragraphs (1) and (2), for “income tax has become chargeable under section 34 of the Taxes Act on any amount\" substitute “ any amount is brought into account by virtue of section 34 of the Taxes Act as a receipt of a Schedule A business (within the meaning of that Act) ”; and\n(b) in sub-paragraph (3), for “income tax has become chargeable under section 36 of the Taxes Act (sale of land with right of re-conveyance) on any amount\" substitute “ any amount is brought into account by virtue of section 36 of the Taxes Act (sale of land with right of re-conveyance) as a receipt of a Schedule A business (within the meaning of that Act) ”.\n(3) In paragraph 6(2), for the words from “on which tax is paid\" onwards substitute “ brought into account by virtue of section 35 of the Taxes Act (charge on assignment of a lease granted at an undervalue) as a receipt of a Schedule A business (within the meaning of that Act) ”.\n(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(5) For paragraph 7A substitute—\n“7A References in paragraphs 5 to 7 above to an amount brought into account as a receipt of a Schedule A business include references to an amount brought into account as a receipt of an overseas property business.”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 5 para. 63(4) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1998/36/schedule/5/paragraph/63",
    "retrieved_at": "2026-10-29T09:22:30.566925+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."
}