Paragraph 5

Section 536 (top slicing relieved liability: one chargeable event) is amended as follows.

In subsection (6) for the words from “from” to the end substitute “ reduced under section 528 in the case of the individual. ”

For subsection (7) substitute—

“(7)

If in the case of the individual the gain is reduced under section 528, for steps 1 and 3 in subsection (1) N is reduced by the number of complete years consisting wholly of days falling within section 528(1)(b) (including days falling within section 528(1)(b) by virtue of section 528(8)).”