Regulation 22 Proceedings relating to tax on chargeable gains

(1)

Where the market value of an asset on a particular date or the apportionment of an amount or value is a material question in any proceedings relating to tax on chargeable gains, the Tribunal hearing the proceedings shall, if so required by any party, record in its decision in principle or final determination that market value or apportionment.

(2)

The final determination on an appeal of the market value of an asset on a particular date or of the apportionment of any amount or value may be proved in any proceedings relating to tax on chargeable gains by a certificate stating the material particulars signed by—

(a)

an inspector where the appeal was settled by agreement, or

(b)

the Clerk where the Special Commissioners determined the appeal, or

(c)

the clerk or registrar of another tribunal where the material question was determined by that other tribunal in accordance with section 47 or 47B of the Management Act^f1 or section 222(4A) of the Inheritance Tax Act 1984^f2,

and a document purporting to be such a certificate may be received in evidence in any such proceedings without further proof.

(3)

In this regulation the expression “final determination on an appeal” shall be construed in accordance with regulation 11(2) of the Capital Gains Tax Regulations 1967^f3, and the expression “material question in any proceedings” shall be construed in accordance with regulation 15(a) of those Regulations.

Annotations

Footnotes

f1: Section 47 was amended by Part VII of Schedule 14 to the Finance Act 1974 (c. 30), section 54(1) of the Finance Act 1975 (c. 7), paragraph 8 of Schedule 7, and Schedule 8, to the Capital Gains Tax Act 1979, and paragraph 2(2) of Schedule 10 to the Taxation of Chargeable Gains Act 1992. Section 47B was inserted by paragraph 22 of Schedule 9 to the Finance Act 1986 and amended by paragraph 32 of Schedule 29 to the Income and Corporation Taxes Act 1988.
f2: Subsection (4A) was inserted by section 200(1) of the Finance Act 1993 (c. 34).
f3: S.I. 1967/149.