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Paragraph 145

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Paragraph 13 (increase in tax payable under this Schedule) is amended as follows.

(2)

For sub-paragraph (1) substitute—

“(1)

This paragraph applies if—

(a)

chargeable gains are treated under paragraph 8 as accruing to a beneficiary by virtue of the matching (under section 87A) of all or part of a capital payment with the section 2(2) amount for a tax year (“the relevant tax year”), and

(b)

the beneficiary is charged to tax by virtue of the matching.

(1A)

Where part of a capital payment is matched, references in sub-paragraphs (2) and (3) to the capital payment are to the part matched.”

(3)

In sub-paragraph (5)(a), for the words from “year of assessment” to the end (excluding the “and”) substitute “ tax year immediately after the relevant tax year, ”.