Section 515 Postponement of capital allowances to secure double taxation relief.

United Kingdom

1)—(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

(6)

This section applies (with any necessary adaptations) in relation to a profession, employment, vocation or office, F2and in relation to the occupation of woodlands the profits or gains of which are assessable under Schedule D, as it applies in relation to a trade.

Annotations

Textual amendments

F1: S. 515(1)–(5) repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31.
F2: Words repealed (6.4.1993) by Finance Act 1988 (c. 39, SIF 63:1, 2), Sch. 14 Pt. V.

Notes on the whole Act

Textual amendments

F1: Act repealed (in relation to Tax for the year 1992/93 and subsequent years as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290(3), Sch. 11 para. 24(1), Sch.12 (with savings in ss. 201(3), 290, Sch. 11 paras. 22, 26(2), 27), subject to applications, powers and amendments in the following enactments: Social Security Contributions and Benefits Act 1992 (c. 4), s. 16(1)(3), Sch. 2; Social Security (Consequential Provisions) Act 1992 (c. 6), s. 5, Sch. 3 Pt. II para. 15; Taxation of Chargeable Gains Act 1992 (c. 12), ss. 1(2), 209(3); Finance (No. 2) Act 1992, ss. 24, 49(2)(3)(a)(b)(4)(9), 77, Sch. 6 paras.4, 9, Sch. 17 paras. 6(3)(6), 7; S.I. 1992/58, arts. 9, 11(3),33, Sch. 2 para.1, S.I. 1992/1725, art. 107, Sch. 8 para.2; S.I. 1995/171, reg. 4(2)(a); S.I. 1995/1916, reg. 4; 1994 c. 9, s. 258, Sch. 26 Pt. V

Notes on Part XVIII

Modifications

C1: See Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 10— relief from double taxation in relation to capital gains tax or corporation tax on chargeable gains and similar foreign taxes and s. 12(1)(2) of the Act of 1979 non-resident person exempt in respect of branch or agency profits under Pt. XVIII not to be chargeable to capital gains tax under s. 12.