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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations further amend the Personal Equity Plan Regulations 1986 and secure that losses in respect of plan investments are disregarded for the purposes of capital gains tax where they accrue on the disposal of investments on or after 18th January 1988.

Authority for the retrospective effect of these Regulations is given by subsection (2A) of section 149D of the Capital Gains Tax Act 1979 (as respectively inserted by section 116 of the Finance Act 1988 and paragraph 26 of Schedule 29 to the Income and Corporation Taxes Act 1988).