Taxation of Chargeable Gains Act 1992

1992 c. 12 · Enacted 6 March 1992 · Extends to United Kingdom

Contents

1. Part 1: Capital gains tax and corporation tax on chargeable gains
2. Chapter 1: Capital gains tax
3. Charge to capital gains tax
4. 1Capital gains tax
5. Territorial scope of charge
6. 1ATerritorial scope
7. 1BNon-UK residents: UK branch or agency
8. 1CNon-UK residents: disposing of an “interest in UK land”
9. 1DNon-UK residents: assets deriving 75% of value from UK land etc
10. Deduction of allowable losses
11. 1ELosses deductible only when within scope of tax etc
12. 1FAllowable losses to be used in most beneficial way etc
13. UK resident individuals with split tax years
14. 1GGains accruing to UK resident individuals in split years
15. Rates of CGT
16. 1HThe main rates of CGT
17. 1IIncome taxed at higher rates or gains exceeding unused basic rate band
18. 1JSection 1I: definitions and other supplementary provision
19. Annual exempt amount
20. 1KAnnual exempt amount
21. 1LIncreasing annual exempt amount to reflect increases in CPI Repealed
22. Temporary periods of non-residence
23. 1MTemporary non-residents
24. 1NSection 1M(1): assets acquired in temporary period of non-residence
25. Interpretation
26. 1ODefinitions used in Chapter
27. Chapter 2: Corporation tax on chargeable gains
28. Corporation tax on chargeable gains: the general scheme
29. 2Corporation tax on chargeable gains
30. 2ACompany's total profits to include chargeable gains
31. Territorial scope
32. 2BTerritorial scope of charge to corporation tax on chargeable gains
33. 2CNon-UK resident company with UK permanent establishment
34. Application of CGT principles etc
35. 2DApplication of CGT principles in calculating gains and losses
36. 2EReferences to income tax or Income Tax Acts in case of companies
37. 2FInteraction of capital gains tax and corporation tax
38. Supplementary
39. 2GAssets of a company vested in a liquidator
40. Chapter 3: Attribution of gains of non-UK resident close companies
41. Gains of non-UK resident companies not otherwise chargeable
42. 3Gains attributed to UK resident individuals etc
43. 3AGains connected to avoidance or foreign activities etc
44. 3BParticipators and their interests
45. Prevention of multiple charges
46. 3CPrevention of double UK taxation
47. Individuals who were non-UK domiciled and temporary non-residents
48. 3DIndividuals who were non-UK domiciled
49. 3ETemporary non-residents
50. Application to groups
51. 3FNon-resident groups of companies
52. Supplementary
53. 3GSupplementary provisions
54. Capital gains tax
55. 4Rates of capital gains tax Repealed
56. 4ASection 4: special cases Repealed
57. 4BDeduction of losses etc in most beneficial way Repealed
58. 4BARates, and use of unused basic rate band, in certain cases Repealed
59. 4BBResidential property gain or loss Repealed
60. 5Accumulation and discretionary settlements. Repealed
61. 6Other special cases. Repealed
62. 7Time for payment of tax. Repealed
63. Corporation tax
64. 8Company’s total profits to include chargeable gains. Repealed
65. Residence etc.
66. 9Residence, including temporary residence. Repealed
67. 10Non-resident with United Kingdom branch or agency. Repealed
68. 10ATemporary non-residents. Repealed
69. 10AASection 10A: supplementary Repealed
70. 10BNon-resident company with United Kingdom permanent establishment Repealed
71. 11Visiting forces and official agents Repealed
72. 12Non-UK domiciled individuals to whom remittance basis applies Repealed
73. 13Attribution of gains to members of non-resident companies. Repealed
74. 13ASection 13(5): interpretation Repealed
75. 14Non-resident groups of companies. Repealed
76. 14ASection 13: non-UK domiciled individuals Repealed
77. CommentaryRef Ref="key-8f1b51e533ff9b07068f2c9150edcf5f"/>UK residential property: non-resident CGT
78. 14BMeaning of “non-resident CGT disposal” Repealed
79. 14CMeaning of “disposal of a UK residential property interest” Repealed
80. 14DPersons chargeable to capital gains tax on NRCGT gains Repealed
81. 14EFurther provision about use of NRCGT losses Repealed
82. 14FPersons not chargeable under section 14D if a claim is made Repealed
83. 14GSection 14F: divided companies Repealed
84. 14HSection 14F: arrangements for avoiding tax Repealed
85. Part II: General Provisions relating to computation of gains and acquisitions and disposals of assets
86. Chapter I: Introductory
87. 15Computation of gains.
88. 16Computation of losses.
89. 16ZALosses: non-UK domiciled individuals Repealed
90. 16ZBIndividual who has made election under section 16ZA: foreign chargeable gains remitted in tax year after tax year in which accrue Repealed
91. 16ZCIndividual who has made election under section 16ZA and to whom remittance basis applies Repealed
92. 16ZDSection 16ZC: supplementary Repealed
93. 16ARestrictions on allowable losses
94. 17Disposals and acquisitions treated as made at market value.
95. 18Transactions between connected persons.
96. 19Deemed consideration in certain cases where assets disposed of in a series of transactions.
97. 20Original market value and aggregate market value for purposes of section 19.
98. Chapter II: Assets and disposals of assets
99. General provisions
100. 21Assets and disposals.
101. 22Disposal where capital sums derived from assets.
102. 23Receipt of compensation and insurance money not treated as a disposal.
103. 24Disposals where assets lost or destroyed, or become of negligible value.
104. 24AStructures and buildings contributions allowances: destruction of asset
105. 25Non-residents: deemed disposals.
106. 25ZAPostponing gain or loss under section 25(3): interests in UK land
107. 25ALong funding leases of plant or machinery: deemed disposals
108. 26Mortgages and charges not to be treated as disposals.
109. 26ATransfers in respect of dormant assets
110. 27Disposals in cases of hire-purchase and similar transactions.
111. 28Time of disposal and acquisition where asset disposed of under contract.
112. 28AContracts completed after ordinary notification period
113. Value shifting
114. 29General provisions.
115. 30Tax-free benefits.
116. 31Disposal of shares or securities by a company
117. 31AAsset-holding company leaving the group. Repealed
118. 32Disposals within a group followed by a disposal of shares. Repealed
119. 33Provisions supplementary to sections 30 to 32. Repealed
120. 33AModification of sections 30 to 33 in relation to chargeable intangible asset Repealed
121. 34Transactions treated as a reorganisation of share capital. Repealed
122. Chapter III: Computation of gains: General provisions
123. Re-basing to 1982, and assets held on 6th April 1965
124. 35Assets held on 31st March 1982 (including assets held on 6th April 1965).
125. 35ADisposal of asset acquired on no gain/no loss disposal
126. 36Deferred charges on gains before 31st March 1982.
127. Re-basing for non-residents for UK land etc held on 5 April 2019
128. 36ARe-basing in relation to direct or indirect disposals of UK land
129. Allowable deductions
130. 37Consideration chargeable to tax on income.
131. 37AConsideration on disposal of certain leases
132. 37BConsideration on certain disposals: structures and buildings allowances
133. 38Acquisition and disposal costs etc.
134. 39Exclusion of expenditure by reference to tax on income.
135. 39AExclusion of certain expenditure: structures and buildings allowances
136. 40Interest charged to capital.
137. 41Restriction of losses by reference to capital allowances and renewals allowances.
138. 41ARestriction of losses: long funding leases of plant or machinery
139. 42Part disposals.
140. 43Assets derived from other assets.
141. Wasting assets
142. 44Meaning of “wasting asset".
143. 45Exemption for certain wasting assets.
144. 46Straightline restriction of allowable expenditure.
145. 47Wasting assets qualifying for capital allowances.
146. Cash basis accounting
147. 47AExemption for certain disposals under, or after leaving, cash basis
148. 47BDisposals made by persons after leaving cash basis Repealed
149. Miscellaneous provisions
150. 48Consideration due after time of disposal.
151. 48AUnascertainable consideration
152. 49Contingent liabilities.
153. 50Expenditure reimbursed out of public money.
154. 51Exemption for winnings and damages etc.
155. 52Supplemental.
156. Chapter IV: Computation of gains: the indexation allowance
157. General
158. 52AChapter to apply only for corporation tax purposes
159. 53The indexation allowance and interpretative provisions.
160. 54Calculation of indexation allowance.
161. 55Assets owned on 31st March 1982 or acquired on a no gain/no loss disposal.
162. 56Part disposals and disposals on a no-gain/no-loss basis.
163. 57Receipts etc. which are not treated as disposals but affect relevant allowable expenditure.
164. Chapter 5: Computation of gains and losses: relevant high value disposals Repealed
165. 57AGains and losses on relevant high value disposals Repealed
166. Chapter 6: Computation of gains and losses: non-resident CGT disposals Repealed
167. 57BGains and losses on non-resident CGT disposals Repealed
168. Chapter 7: Computation of gains and losses: disposals of residential property interests Repealed
169. 57CGains and losses on disposals of residential property interests Repealed
170. Part III: Individuals, partnerships, trusts and collective investment schemes etc
171. Chapter I: Miscellaneous provisions
172. 58Spouses and civil partners.
173. 59Partnerships.
174. 59ALimited liability partnerships.
175. 59AALimited liability partnerships: deemed disposal
176. 59BAlternative investment fund managers (1)
177. 59CAlternative investment managers (2)
178. 60Nominees and bare trustees.
179. 61Funds in court.
180. 62Death: general provisions.
181. 63Death: application of law in Scotland.
182. 63ADeath: application of law in Northern Ireland
183. 64Expenses in administration of estates and trusts.
184. 65Liability for tax of trustees or personal representatives.
185. 66Insolvents’ assets.
186. 67Provisions applicable where section 79 of the Finance Act 1980 has applied.
187. Chapter II: Settlements
188. General provisions
189. 68Meaning of “settled property".
190. 68AMeaning of “settlor”
191. 68BTransfer between settlements: identification of settlor
192. 68CVariation of will or intestacy, etc: identification of settlor
193. 69Trustees of settlements.
194. 69ASub-fund settlements
195. 70Transfers into settlement.
196. 71Person becoming absolutely entitled to settled property.
197. 72Termination of life interest on death of person entitled.
198. 73Death of life tenant: exclusion of chargeable gain.
199. 74Effect on sections 72 and 73 of relief under section 165 or 260.
200. 75Death of annuitant. Repealed
201. 76Disposal of interests in settled property.
202. 76ADisposal of interest in settled property: deemed disposal of underlying assets.
203. 76BTransfers of value by trustees linked with trustee borrowing.
204. 77Charge on settlor with interest in settlement. Repealed
205. 78Right of recovery. Repealed
206. 79Provisions supplemental to sections 77 and 78. Repealed
207. 79ARestriction on set-off of trust losses.
208. 79BAttribution to trustees of gains of non-resident companies.
209. Migration of settlements, non-resident settlements and dual resident settlements
210. 80Trustees ceasing to be resident in U.K.
211. 80APostponing gain or loss under section 80(2): interests in UK land
212. 81Death of trustee: special rules.
213. 82Past trustees: liability for tax.
214. 83Trustees ceasing to be liable to U.K. tax.
215. 83ATrustees both resident and non-resident in a year of assessment
216. 84Acquisition by dual resident trustees.
217. 85Disposal of interests in non-resident settlements.
218. 85ATransfers of value: attribution of gains to beneficiaries and treatment of losses
219. 86Attribution of gains to settlors with interest in non-resident or dual resident settlements.
220. 86AAttribution of gains to settlor where temporarily non-resident
221. 87Non-UK resident settlements: attribution of gains to beneficiaries
222. 87ASection 87: matching
223. 87BSection 87: remittance basis
224. 87BASections 87 and 87A: disregard of capital payments made from carried interest gains
225. 87CSections 87 and 87A: disregard of certain capital payments
226. 87DSections 87 and 87A: disregard of capital payments to non-residents
227. 87ESections 87 and 87A: disregarded payments to temporary non-resident
228. 87FSections 87 and 87A: disregarded payments in year settlement ends
229. 87GSettlor liable if capital payment received by close family member
230. 87HMeaning of “close member of the settlor's family”
231. 87HAOnward gifts from non-residents or qualifying new residents
232. 87INon-UK resident settlements: recipients of onward gifts Repealed
233. 87JRelevant parts of payment from which onward gift derived Repealed
234. 87KAttribution of gains or payments to recipient of onward gift Repealed
235. 87LCases where settlor liable following onward gift Repealed
236. 87MCases where recipient of onward gift is user of remittance basis Repealed
237. 87NSections 87 and 87A: disregard of payments to migrating beneficiary
238. 87PSections 87 and 87A: temporary migration after payment disregarded
239. 88Gains of dual resident settlements.
240. 89Migrant settlements etc.
241. 90Sections 87 and 89(2): transfers between settlements
242. 90ASection 90: transfers made for consideration in money or money's worth
243. 91Increase in tax payable under section 87 or 89(2).
244. 92Qualifying amounts and matching. Repealed
245. 93Matching: special cases. Repealed
246. 94Transfers of settled property where qualifying amounts not wholly matched. Repealed
247. 95Matching after transfer. Repealed
248. 96Payments by and to companies.
249. 97Supplementary provisions.
250. 97AValue of benefit conferred by capital payment made by way of loan
251. 97BValue of benefit conferred by capital payment made by way of making movable property available
252. 97CValue of benefit conferred by capital payment made by way of making land available
253. 98Power to obtain information for purposes of sections 87 to 90.
254. 98ASettlements with foreign element: information.
255. Chapter III: Collective investment schemes and investment trusts etc
256. 99Application of Act to unit trust schemes.
257. 99ATreatment of umbrella schemes
258. 99BCalculation of the disposal cost of accumulation units
259. 100Exemption for authorised unit trusts etc.
260. 100AExemption for certain EEA UCITS Repealed
261. 101Transfer of company’s assets to investment trust.
262. 101ATransfer within group to investment trust.
263. 101BTransfer of company’s assets to venture capital trust.
264. 101CTransfer within group to venture capital trust.
265. 102Collective investment schemes with property divided into separate parts. Repealed
266. 103Restriction on availability of indexation allowance. Repealed
267. 103AApplication of Act to certain offshore funds Repealed
268. 103BApplication of section 99B to transparent funds Repealed
269. 103CPower to make regulations about collective investment schemes
270. 103DApplication of Act to tax transparent funds
271. 103DATax transparent funds: share pooling etc
272. 103DBUK property rich collective investment vehicles etc
273. 103DCCo-ownership schemes which are to be treated as partnerships
274. Chapter 4: Collective investment schemes: exchanges, mergers and schemes of reconstruction
275. 103EApplication of Chapter
276. 103FExchanges of units for units in the same scheme
277. 103GExchange of units for those in another collective investment scheme
278. 103HScheme of reconstruction involving issue of units
279. 103IScheme of reconstruction involving conversion scheme
280. 103JSupplementary provisions
281. 103KRestriction on application of sections 103G, 103H and 103I : anti-avoidance
282. Chapter 5: Carried interest
283. 103KACarried interest
284. 103KBCarried interest: consideration on disposal etc of right Repealed
285. 103KCCarried interest: foreign chargeable gains Repealed
286. 103KDCarried interest: anti-avoidance Repealed
287. 103KECarried interest: avoidance of double taxation Repealed
288. 103KFRelief for external investors on disposal of partnership asset
289. 103KFAElection for carried interest gains to be chargeable as scheme profits arise Repealed
290. 103KFBElection in relation to scheme to apply to associated schemes Repealed
291. 103KFCInteraction with other charges Repealed
292. 103KFDDeemed accrual of loss where carried interest never arises Repealed
293. 103KFEAnti-avoidance Repealed
294. 103KGMeaning of “arise” in Chapter 5 Repealed
295. 103KHInterpretation of Chapter 5 Repealed
296. Part IV: Shares, securities, options etc.
297. Chapter I: General
298. Share pooling, identification of securities, and indexation
299. 104Share pooling: general interpretative provisions.
300. 105Disposal on or before day of acquisition of shares and other unidentified assets.
301. 105AShares acquired on same day: election for alternative treatment
302. 105BProvision supplementary to section 105A
303. 106Disposal of shares and securities by company within prescribed period of acquisition. Repealed
304. 106AIdentification of securities: ... capital gains tax.
305. 107Identification of securities etc: general rules for corporation tax.
306. 108Identification of relevant securities for corporation tax.
307. 109Corporation tax: pre-April 1982 share pools.
308. 110Indexation for section 104 holdings for corporation tax.
309. 110AIndexation for section 104 holdings: capital gains tax. Repealed
310. 111Indexation: building society etc. shares. Repealed
311. 112Parallel pooling regulations: corporation tax.
312. 113Calls on shares: corporation tax.
313. 114Consideration for options: corporation tax.
314. Gilt-edged securities and qualifying corporate bonds
315. 115Exemptions for gilt-edged securities and qualifying corporate bonds etc.
316. 116Reorganisations, conversions and reconstructions.
317. 116AHolding beginning or ceasing to fall within section 490 of CTA 2009
318. 116BShares beginning or ceasing to be shares to which section 521B of CTA 2009 applies
319. 117Meaning of “qualifying corporate bond".
320. 117AAssets that are not qualifying corporate bonds for corporation tax purposes. Repealed
321. 117BHoldings in unit trusts and offshore funds excluded from treatment as qualifying corporate bonds. Repealed
322. Deep discount securities, the accrued income scheme etc.
323. 118Amount to be treated as consideration on disposal of deep discount securities etc. Repealed
324. 119Transfers of securities subject to the accrued income scheme.
325. 119AIncrease in expenditure by reference to tax charged in relation to employment-related securities
326. 119BSection 119A: unchargeable, and unremitted chargeable, foreign securities income
327. 119CSection 119A: unremitted Part 7A income
328. 120Increase in expenditure by reference to tax charged in relation to shares etc.
329. Savings certificates etc.
330. 121Exemption for government non-marketable securities.
331. Capital distribution in respect of shares etc.
332. 122Distribution which is not a new holding within Chapter II.
333. 123Disposal of right to acquire shares or debentures.
334. Close companies
335. 124Disposal of shares: relief in respect of income tax consequent on shortfall in distributions.
336. 125Shares in close company transferring assets at an undervalue.
337. Share loss relief
338. 125AEffect of share loss relief
339. Chapter II: Reorganisation of share capital, conversion of securities etc.
340. Reorganisation or reduction of share capital
341. 126Application of sections 127 to 131.
342. 127Equation of original shares and new holding.
343. 128Consideration given or received by holder.
344. 129Part disposal of new holding.
345. 130Composite new holdings.
346. 131Indexation allowance.
347. Conversion of securities
348. 132Equation of converted securities and new holding.
349. 133Premiums on conversion of securities.
350. 134Compensation stock.
351. Company reconstructions ...
352. 135Exchange of securities for those in another company
353. 136Scheme of reconstruction involving issue of securities
354. 137Restriction on application of sections 135 and 136 : anti-avoidance.
355. 138Procedure for clearance in advance.
356. 138ZAShare exchanges involving non-UK incorporated close companies
357. 138ZBTreatment of securities connected with such exchanges
358. 138ZCElection to disapply section 135 or 136
359. 138AUse of earn-out rights for exchange of securities.
360. 139Reconstruction ... involving transfer of business.
361. 140Postponement of charge on transfer of assets to non-resident company.
362. Transfers concerning companies of different member States
363. 140ATransfer or division of UK business
364. 140BSection 140A: anti-avoidance.
365. 140CTransfer or division of non-UK business
366. 140DSection 140C: anti-avoidance.
367. 140DASecurities issued on division of business
368. Mergers within European Community
369. 140EMerger leaving assets within UK tax charge
370. 140FMerger: assets outside UK tax charge
371. 140GTreatment of securities issued on merger
372. 140GADisapplication of sections 24 and 122 where subsidiary merges with its parent
373. Transparent entities: disapplication of reliefs related to Mergers Directive
374. 140HShare exchanges
375. 140IDivision of business or transfer of assets
376. 140JMergers
377. 140KTransparent entities: taxation after merger, &c
378. 140LInterpretation
379. Chapter III: Miscellaneous provisions relating to commodities, futures, options and other securities
380. 142Capital gains on stock dividends.
381. 142AREITs: chargeable gains on stock dividends
382. 143Commodity and financial futures and qualifying options.
383. 144Options and forfeited deposits.
384. 144ZAApplication of market value rule in case of exercise of option
385. 144ZBException to rule in section 144ZA
386. 144ZCSection 144ZB: non-commercial exercise of option
387. 144ZDSection 144ZB: alteration of value to obtain tax advantage
388. 144ACash-settled options.
389. 145Call options: indexation allowance.
390. 146Options: application of rules as to wasting assets.
391. 147Quoted options treated as part of new holdings.
392. 148Traded options: closing purchases.
393. 148AFutures and options involving guaranteed returns Repealed
394. 148BDeemed disposals at a gain under section 564(4) of ITTOIA 2005 Repealed
395. 148CDeemed disposals at a loss under section 564(4) of ITTOIA 2005 Repealed
396. 149Rights to acquire qualifying shares.
397. 149AEmployment-related securities options
398. 149AARestricted and convertible employment-related securities and employee shareholder shares
399. 149ABShares in research institution spin-out companies
400. 149BEmployee incentive schemes: conditional interests in shares.
401. 149CPriority share allocations
402. 150Business expansion schemes.
403. 150AEnterprise investment scheme.
404. 150BEnterprise investment scheme: reduction of EIS relief.
405. 150CEnterprise investment scheme: re-investment.
406. 150DEnterprise investment scheme: application of taper relief Repealed
407. 150ESeed enterprise investment scheme
408. 150FSeed enterprise investment scheme: reduction of relief
409. 150GSeed enterprise investment scheme: re-investment
410. 151Personal equity plans.
411. 151AVenture capital trusts: reliefs.
412. 151BVenture capital trusts: supplementary.
413. 151BACITR: identification of securities or shares on a disposal
414. 151BBCITR: rights issues etc
415. 151BCCITR: company reconstructions etc
416. 151CStrips: manipulation of price: associated payment giving rise to loss
417. 151DCorporate strips: manipulation of price: associated payment giving rise to loss
418. 151EExchange gains and losses from loan relationships: regulations
419. 151FTreatment of alternative finance arrangements Repealed
420. 151GRegulations where non-qualifying shares conditions altered
421. Chapter 4: Alternative finance arrangements
422. Introduction
423. 151HIntroduction
424. 151IMeaning of “financial institution”
425. Arrangements that are alternative finance arrangements
426. 151JPurchase and resale arrangements
427. 151KDiminishing shared ownership arrangements : initial acquisition
428. 151KADiminishing shared ownership arrangements: refinancing
429. 151LDeposit arrangements
430. 151MProfit share agency arrangements
431. 151NInvestment bond arrangements
432. 151OProvision not at arm's length: exclusion of arrangements from sections 151J to 151N
433. Meaning of “alternative finance return”
434. 151PPurchase and resale arrangements
435. 151QPurchase and resale arrangements where return in foreign currency
436. 151RDiminishing shared ownership arrangements
437. 151SOther arrangements
438. Special rules for investment bond arrangements
439. 151TInvestment bond arrangements are qualifying corporate bonds
440. 151UTreatment of bond-holder and bond-issuer
441. 151VTreatment as securities
442. 151WInvestment bond arrangements not unit trust scheme or offshore fund
443. Other rules
444. 151XExclusion of some alternative finance return from sale consideration
445. 151YDiminishing shared ownership arrangements : further provision
446. 151ZDiminishing shared ownership arrangements: further provision in respect of refinancing
447. Part V: Transfer of business assets, business asset disposal relief and investors' relief
448. Chapter I: Transfer of business assets: General provisions
449. Replacement of business assets
450. 152Roll-over relief.
451. 153Assets only partly replaced.
452. 153AProvisional application of sections 152 and 153.
453. 154New assets which are depreciating assets.
454. 155Relevant classes of assets.
455. 156Assets of Class 1.
456. 156ZAIntangible fixed assets: roll-over relief
457. 156ZBIntangible fixed assets: interaction with relief under Chapter 7 of Part 8 of CTA 2009
458. 156ACessation of trade by limited liability partnership.
459. 157Trade carried on by family company: business assets dealt with by individual.
460. 158Activities other than trades, and interpretation.
461. 159Non-residents: roll-over relief.
462. 159ADisposals of interests in UK land by non-residents: roll-over relief
463. 160Dual resident companies: roll-over relief. Repealed
464. Stock in trade
465. 161Appropriations to and from stock.
466. Transfer of business to a company
467. 162Roll-over relief on transfer of business.
468. 162AElection for section 162 not to apply Repealed
469. Transfer of business from company to shareholders
470. 162BDisincorporation relief: assets (including pre-FA 2002 goodwill)
471. 162CDisincorporation relief: post-FA 2002 goodwill
472. Retirement relief
473. 163Relief for disposals by individuals on retirement from family business. Repealed
474. 164Other retirement relief. Repealed
475. Chapter IA: Roll-over relief on re-investment
476. 164ARelief on re-investment for individuals. Repealed
477. 164BRoll-over relief on re-investment by trustees. Repealed
478. 164BAInteraction with retirement relief Repealed
479. 164CRestriction applying to retirement relief and roll-over relief on re-investment. Repealed
480. 164DRelief carried forward into replacement shares. Repealed
481. 164EApplication of Chapter in cases of an exchange of shares. Repealed
482. 164FFailure of conditions of relief. Repealed
483. 164FALoss of relief in cases where shares acquired on being issued. Repealed
484. 164FFQualifying investment acquired from husband or wife. Repealed
485. 164FGMultiple claims. Repealed
486. 164GMeaning of “qualifying company". Repealed
487. 164HProperty companies etc. not to be qualifying companies. Repealed
488. 164IQualifying trades. Repealed
489. 164JProvisions supplementary to section 164I. Repealed
490. 164KForeign residents. Repealed
491. 164LAnti-avoidance provisions. Repealed
492. 164MExclusion of double relief. Repealed
493. 164MAExclusion of double relief Repealed
494. 164NInterpretation of Chapter IA. Repealed
495. Chapter II: Gifts of business assets
496. 165Relief for gifts of business assets.
497. 165AMeaning of “holding company”, “trading company” and “trading group”
498. 166Gifts to non-residents.
499. 167Gifts to foreign-controlled companies.
500. 167AGifts of direct or indirect interests in UK land to non-residents
501. 168Emigration of donee.
502. 168APostponing held-over gain: interests in UK land
503. 169Gifts into dual resident trusts.
504. 169ACessation of trade by limited liability partnership
505. 169BGifts to settlor-interested settlements etc
506. 169CClawback of relief if settlement becomes settlor-interested etc
507. 169DExceptions to sections 169B and 169C
508. 169EMeaning of “settlor” in sections 169B to 169D and 169G
509. 169FMeaning of “interest in a settlement” in sections 169B to 169D
510. 169GMeaning of “arrangement” in sections 169B to 169E and information power
511. Chapter 3: business asset disposal relief
512. 169HIntroduction
513. 169IMaterial disposal of business assets
514. 169JDisposal of trust business assets
515. 169KDisposal associated with relevant material disposal
516. 169LRelevant business assets
517. 169LARelevant business assets: goodwill transferred to a close company
518. 169MRelief to be claimed
519. 169NAmount of relief: general
520. 169OAmount of relief: special provisions for certain trust disposals
521. 169PAmount of relief: special provision for certain associated disposals
522. 169QReorganisations: disapplication of section 127
523. 169RReorganisations involving acquisition of qualifying corporate bonds
524. 169SInterpretation of Chapter
525. 169SAMeaning of “trading company” and “trading group”
526. Chapter 3A: business asset disposal relief where company ceases to be individual's personal company
527. 169SBOverview of Chapter
528. 169SCElection by individual where company ceases to be personal company
529. 169SDSupplementary election to defer gains until subsequent disposal
530. 169SEApplication of section 169SD where section 116 applies
531. 169SFApplication of section 169SD where sections 127 to 130 apply
532. 169SGElections under sections 169SC and 169SD
533. 169SHClaims for relief in respect of subsequent disposals
534. Chapter 4: business asset disposal relief where held-over gains become chargeable
535. 169TOverview of Chapter
536. 169UEligibility conditions for deferred business asset disposal relief
537. 169VOperation of deferred business asset disposal relief
538. Chapter 5: Investors' relief
539. Overview
540. 169VAOverview of Chapter
541. Qualifying shares
542. 169VBQualifying shares, potentially qualifying shares and excluded shares
543. The relief
544. 169VCInvestors' relief
545. 169VDDisposal where holding consists partly of qualifying shares
546. 169VEWhich shares are in holding immediately before disposal
547. 169VFShares treated as disposed of in previous disposal where claim made
548. 169VGShares treated as disposed of in previous disposal: no claim made
549. Trustees of a settlement: special provision
550. 169VHDisposals by trustees: further conditions for relief
551. 169VIDisposals by trustees: relief reduced in certain cases
552. Disposals of interests in shares
553. 169VJDisposals of interests in shares: joint holdings etc
554. Cap on relief
555. 169VKCap on relief for disposal by an individual
556. 169VLCap on relief for disposal by trustees of a settlement
557. Claims for relief
558. 169VMClaims for relief
559. Reorganisations
560. 169VNReorganisations where no consideration given
561. 169VOThe appropriate number
562. 169VPReorganisations where consideration given
563. 169VQExchange of shares for those in another company
564. 169VRNew shares issued on scheme of reconstruction
565. 169VSModification of conditions for being a qualifying share
566. 169VTElection to disapply section 127
567. Supplemental
568. 169VU“Subscribe” etc
569. 169VV“Trading company” etc
570. 169VW“Relevant employee”
571. 169VX“Unremunerated director”
572. 169VYGeneral definitions
573. Part VI: Companies, oil, insurance etc.
574. Chapter I: Companies
575. Groups of companies
576. 170Interpretation of sections 171 to 181.
577. Transactions within groups
578. 171Transfers within a group: general provisions.
579. 171AElection to reallocate gain or loss to another member of the group
580. 171BElection under section 171A: effect
581. 171CElections under section 171A: insurance companies
582. 172Transfer of United Kingdom branch or agency. Repealed
583. 173Transfers within a group: trading stock.
584. 174Disposal or acquisition outside a group.
585. 175Replacement of business assets by members of a group.
586. Losses attributable to depreciatory transactions
587. 176Depreciatory transactions within a group.
588. 177Dividend stripping.
589. 177ARestriction on set-off of pre-entry losses.
590. Pre-entry gains
591. 177BRestrictions on setting losses against pre-entry gains. Repealed
592. Companies leaving groups
593. 178Company ceasing to be member of group: pre-appointed day cases. Repealed
594. 179Company ceasing to be member of group: post-appointed day cases.
595. 179ZAClaim for adjustment of calculations under section 179
596. 179AReallocation within group of gain or loss accruing under section 179 Repealed
597. 179BRoll-over of degrouping charge on business assets Repealed
598. 180Transitional provisions. Repealed
599. 181Exemption from charge under 178 or 179 in the case of certain mergers.
600. Restriction on indexation allowance for groups and associated companies
601. 182Disposals of debts. Repealed
602. 183Disposals of shares. Repealed
603. 184Definitions and other provisions supplemental to sections 182 and 183. Repealed
604. Restrictions on buying losses or gains etc
605. 184ARestrictions on buying losses: tax avoidance schemes
606. 184BRestrictions on buying gains: tax avoidance schemes
607. 184CSections 184A and 184B: meaning of “qualifying change of ownership”
608. 184DSections 184A and 184B: meaning of “tax advantage”
609. 184ESections 184A and 184B: “pre-change assets”: basic rules
610. 184FSections 184A and 184B: “pre-change assets”: pooling rules
611. 184GAvoidance involving losses: schemes converting income to capital
612. 184HAvoidance involving losses: schemes securing deductions
613. 184INotices under sections 184G and 184H
614. Assets subject to EU exit charges
615. 184JAsset subject to EU exit charge on becoming chargeable asset
616. Non-resident and dual resident companies
617. 185Deemed disposal of assets on company ceasing to be resident in U.K.
618. 186Deemed disposal of assets on company ceasing to be liable to U.K. taxation. Repealed
619. 187Postponement of charge on deemed disposal under section 185 or 186. Repealed
620. 187ADeemed disposal under section 185: ATED-related gains and losses Repealed
621. 187BPostponing gain or loss under section 185(2): interests in UK land
622. 188Dual resident companies: deemed disposal of certain assets. Repealed
623. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
624. 188AElection for pooling Repealed
625. 188BMeaning of “NRCGT group” Repealed
626. 188CTransfers within an NRCGT group Repealed
627. 188DPerson chargeable to capital gains tax on NRCGT gains accruing to members of an NRCGT group Repealed
628. 188EFurther provision about group losses Repealed
629. 188FCompanies becoming eligible to join an NRCGT group Repealed
630. 188GCompany ceasing to be a member of an NRCGT group Repealed
631. 188HThe responsible members of an NRCGT group Repealed
632. 188IJoint and several liability of responsible members Repealed
633. 188JThe representative company of an NRCGT group Repealed
634. 188KInterpretation of sections 188A to 188J Repealed
635. Recovery of tax otherwise than from tax-payer company
636. 189Capital distribution of chargeable gains: recovery of tax from shareholder.
637. 190Tax recoverable from another group company or controlling director.
638. Demergers
639. 192Tax exempt distributions.
640. Disposals by companies with substantial shareholding
641. 192AExemptions for gains or losses on disposal of shares etc
642. Chapter II: Oil and mining industries
643. Oil exploration and exploitation
644. 193Roll-over relief not available for gains on oil licences. Repealed
645. 194Disposals of oil licences relating to undeveloped areas.
646. 195Allowance of certain drilling expenditure etc.
647. 195AOil licence swaps
648. 195BLicence-consideration swap
649. 195CCompany that receives mixed consideration: N exceeds C
650. 195DCompany that receives mixed consideration: N does not exceed C
651. 195ECompany that gives mixed consideration
652. 195FReimbursed expenditure
653. 196Interpretation of sections 194 to 195F .
654. 197Disposals of interests in oil fields etc: ring fence provisions.
655. 198Replacement of business assets used in connection with oil fields.
656. 198ARing fence reinvestment: whole consideration reinvested
657. 198BRing fence reinvestment: part of consideration reinvested
658. 198CProvisional application of sections 198A and 198B
659. 198DNo double claims
660. 198ERing fence reinvestments and disposal consideration
661. 198FQualification for roll-over relief
662. 198GQualification for section 153 relief
663. 198HAcquisition by member of same group
664. 198IExploration, appraisal and development expenditure
665. 198JOil and gas: reinvestment after pre-trading disposal
666. 198KProvisional application of section 198J
667. 198LExpenditure by member of same group
668. 199Exploration or exploitation assets: deemed disposals
669. 200Limitation of losses on disposal of oil industry assets held on 31st March 1982. Repealed
670. Mineral leases
671. 201Royalties. Repealed
672. 202Capital losses.
673. 203Provisions supplementary to section 202 .
674. Chapter III: Insurance
675. 204Policies of insurance and non-deferred annuities
676. 205Disallowance of insurance premiums as expenses.
677. 206. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
678. 207. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
679. 208. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
680. 209. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
681. 210Life assurance and deferred annuities.
682. 210ARing-fencing of losses
683. 210BDisposal and acquisition of section 119 or 120 securities
684. 210CLosses on disposal of authorised investment fund assets to connected manager
685. 211Transfers of business.
686. 211ZATransfers of business: transfer of unused losses
687. 211AGains of insurance company from venture capital investment partnership
688. 211BTransfers of assets to certain collective investment schemes
689. 212Annual deemed disposal of holdings of unit trusts etc.
690. 213Spreading of gains and losses under section 212.
691. 213APower to modify ss. 212 and 213 etc in case of CFCs that are offshore funds
692. 214Transitional provisions. Repealed
693. 214AFurther transitional provisions. Repealed
694. 214BModification of Act in relation to overseas life insurance companies. Repealed
695. 214BAInterpretation Repealed
696. Chapter IV: Miscellaneous cases
697. Re-organisations of mutual businesses
698. 214CGains not eligible for taper relief. Repealed
699. Building societies etc.
700. 215Disposal of assets on amalgamation of building societies etc.
701. 216Assets transferred from society to company.
702. 217Shares, and rights to shares, in successor company.
703. Friendly societies
704. 217ATransfer of assets on incorporation of registered friendly society.
705. 217BRights of members in registered society equated with rights in incorporated society.
706. 217CSubsequent disposal of assets by incorporated society etc.
707. Registered societies and co-operatives
708. 217DDisposal of assets on union, amalgamation or transfer of engagements
709. The Regulator of Social Housing, the Secretary of State and housing associations
710. 218Disposals of land between the Regulator of Social Housing, the Secretary of State or Scottish Homes and housing associations.
711. 219Disposals by housing related bodies.
712. 220Disposals by Northern Ireland housing associations.
713. Other bodies
714. 221Harbour authorities. Repealed
715. Part VII: Other property, businesses, investments etc.
716. Private residences
717. 222Relief on disposal of private residence.
718. 222ADetermination of main residence: non-resident CGT disposals
719. 222BNon-qualifying tax years
720. 222CDay count test
721. 223Amount of relief.
722. 223ZAAmount of relief: individual’s residency delayed by certain events
723. 223AAmount of relief: non-resident CGT disposals
724. 223BAdditional relief: part of private residence let out
725. 224Relief under sections 223 and 223B: further provisions.
726. 225Private residence occupied under terms of settlement.
727. 225APrivate residence held by personal representatives
728. 225BDisposals in connection with divorce, etc
729. 225BADeferred payments on disposals in connection with divorce etc
730. 225CSale of private residence under certain agreements with employer, etc
731. 225DPrivate residence of adult placement carer
732. 225EDisposals by disabled persons or persons in care homes etc
733. 226Private residence occupied by dependent relative before 6th April 1988.
734. 226APrivate residence relief: cases where relief obtained under section 260
735. 226BException to section 226A
736. Employee share ownership trusts
737. 227Conditions for roll-over relief.
738. 228Conditions for relief: supplementary.
739. 229The relief.
740. 230Dwelling-houses: special provision.
741. 231Shares: special provision.
742. 232Chargeable event when replacement assets owned.
743. 233Chargeable event when replacement property owned.
744. 234Chargeable events when bonds owned.
745. 235Information. Repealed
746. 236Prevention of double charge.
747. Share incentive plans
748. 236ARelief for transfers to share incentive plans
749. Employee shareholders
750. 236BExemption for employee shareholder shares Repealed
751. 236COnly first £50,000 of shares under associated agreements to be exempt Repealed
752. 236DShares not exempt if shareholder or connected person has material interest in company Repealed
753. 236EIdentification of exempt employee shareholder shares Repealed
754. 236FReorganisation of share capital involving employee shareholder shares Repealed
755. 236GRelinquishment of employment rights is not disposal of an asset
756. Employee-ownership trusts
757. 236HDisposals to employee-ownership trusts
758. 236ITrading requirement
759. 236JAll-employee benefit requirement
760. 236KFurther provision about the equality requirement
761. 236LCases in which all-employee benefit requirement treated as met
762. 236LATrustee independence requirement
763. 236MControlling interest requirement
764. 236NLimited participation requirement
765. 236ONo section 236H relief if disqualifying event in next four tax years
766. 236PEvents which trigger deemed disposal and reacquisition by trustees
767. 236QRelief for deemed disposals under section 71
768. 236RNo section 236Q relief if disqualifying event in next four tax years
769. 236SIdentification of shares where section 236H or 236Q applies
770. 236TFurther provision about significant and controlling interests
771. 236UInterpretation of sections 236H to 236U
772. Superannuation funds, profit sharing schemes, employee trusts etc.
773. 237Superannuation funds, annuities and annual payments.
774. 237AShare option schemes: release and replacement of options.
775. 238Approved profit sharing and share option schemes.
776. 238A... Share schemes and share incentives
777. 239Disposals to trustees of employee trusts
778. 239ZARelief for disposals by trustees of employee trusts
779. Registered pension schemes
780. 239ADe-registration of registered pension schemes
781. Leases
782. 240Leases of land and other assets.
783. 241UK furnished holiday lettings. Repealed
784. 241AEEA furnished holiday lettings Repealed
785. Part disposals
786. 242Small part disposals.
787. 243Part disposal to authority with compulsory powers.
788. 244Part disposal: consideration exceeding allowable expenditure.
789. Compulsory acquisition
790. 245Compensation paid on compulsory acquisition.
791. 246Time of disposal and acquisition.
792. 247Roll-over relief on compulsory acquisition.
793. 247AProvisional application of section 247.
794. 248Provisions supplementary to section 247.
795. Joint interests in land
796. 248ARoll-over relief on disposal of joint interests in land: conditions
797. 248BCalculation of relief
798. 248CExcluded land
799. 248DMilk quotas
800. 248ERelief on disposal of joint interests in private residence
801. Woodlands
802. 249Grants for giving up agricultural land. Repealed
803. 250Woodlands.
804. Debts
805. 251General provisions.
806. 252Foreign currency bank accounts.
807. 252AForeign currency bank accounts and the remittance basis Repealed
808. 253Relief for loans to traders.
809. 254Relief for debts on qualifying corporate bonds. Repealed
810. 255Provisions supplementary to section 254. Repealed
811. Investments in social enterprises
812. 255AHold-over relief for gains re-invested in social enterprises
813. 255BGains and losses on investments in social enterprises
814. 255CApplication of section 255B(2) where maximum SI relief not obtained
815. 255DApplication of section 255B(2) where SI relief has been reduced
816. 255EReorganisations involving shares to which SI relief is attributable
817. Charities and gifts of non-business assets etc.
818. 256Charities.
819. 256AAttributing gains to the non-exempt amount: charitable trusts
820. 256BHow gains are attributed to the non-exempt amount: charitable trusts
821. 256CAttributing gains to the non-exempt amount: charitable companies
822. 256DHow gains are attributed to the non-exempt amount: charitable companies
823. 257Gifts to charities etc.
824. 257ATainted charity donations
825. 257BAssociated donations in relation to tainted charity donations
826. 258Works of art etc.
827. 259Gifts to housing associations.
828. 260Gifts on which inheritance tax is chargeable etc.
829. 261Section 260 relief: gifts to non-residents.
830. 261ZAGifts of direct or indirect interests in UK land to non-residents
831. Know-how
832. 261ADisposal of know-how as part of disposal of all or part of a trade
833. Deduction of trading losses or post-cessation expenditure etc
834. 261BTreating trade loss etc as CGT loss
835. 261CMeaning of “the maximum amount” for purposes of section 261B
836. 261DTreating excess post-cessation trade or property relief as CGT loss
837. 261EMeaning of “the maximum amount” for purposes of section 261D
838. Repurchase price under repos
839. 261FDeemed manufactured payments: effect on repurchase price
840. 261GPrice differences under repos: effect on repurchase price
841. 261HPower to modify section 261G in non-arm's length case
842. Miscellaneous reliefs and exemptions
843. 262Chattel exemption.
844. 263Passenger vehicles.
845. 263AZARenewables obligation certificates for domestic microgeneration
846. 263ZAFormer employees: employment-related liabilities
847. 263AAgreements for sale and repurchase of securities: capital gains tax
848. 263AASection 263A: interpretation
849. 263BStock lending arrangements.
850. 263CStock lending involving redemption.
851. 263CAStock lending: insolvency etc of borrower
852. 263DGains accruing to persons paying manufactured dividends Repealed
853. 263EStructured finance arrangements
854. 263FPower to modify repo provisions: non-standard repo cases
855. 263GPower to modify repo provisions: redemption arrangements
856. 263HSections 263F and 263G: supplementary provisions
857. 263IPowers about manufactured overseas dividends
858. 264Relief for local constituency associations of political parties on reorganisation of constituencies.
859. 265Designated international organisations.
860. 266Inter-American Development Bank.
861. 267Sharing of transmission facilities.
862. 268Decorations for valour or gallant conduct.
863. 268AVictims of National-Socialist persecution
864. 268BCompensation for deprivation of foreign assets
865. 269Foreign currency for personal expenditure.
866. 270Chevening Estate.
867. 271Other miscellaneous exemptions.
868. Visiting forces and official agents etc
869. 271ZAVisiting forces and staff of designated allied headquarters
870. 271ZBOfficial agents of Commonwealth countries or Republic of Ireland etc
871. Part 7A: UK representatives of non-UK residents
872. Chapter 1: Treatment of branch or agency as UK representative of non-UK resident
873. Introduction
874. 271AOverview of Chapter
875. Branches and agencies
876. 271BBranch or agency treated as UK representative
877. 271CTrade or profession carried on in partnership
878. 271DInterpretation of Chapter
879. Chapter 2: Capital gains tax obligations and liabilities imposed on UK representatives
880. 271EIntroduction to Chapter
881. 271FObligations and liabilities of UK representative
882. 271GExceptions: notices and information
883. 271HExceptions: criminal offences and penalties etc
884. 271IIndemnities
885. 271JMeaning of “non-UK resident” and “independent agent”
886. Part VIII: Supplemental
887. 272Valuation: general.
888. 273Unquoted shares and securities.
889. 274Value determined for inheritance tax.
890. 275Location of assets.
891. 275ALocation of certain intangible assets
892. 275BSection 275A: supplementary provisions
893. 275CLocation of assets: interests of co-owners
894. 276The territorial sea and the continental shelf.
895. 276ANo gain/no loss: foreign permanent establishment exemption
896. 277Double taxation relief. Repealed
897. 278Allowance for foreign tax. Repealed
898. 279Foreign assets: delayed remittances.
899. 279ADeferred unascertainable consideration: election for treatment of loss
900. 279BProvisions supplementary to section 279A
901. 279CEffect of election under section 279A
902. 279DElections under section 279A
903. 280Consideration payable by instalments.
904. 281Payment by instalments of tax on gifts.
905. 282Recovery of tax from donee.
906. 283Repayment supplements.
907. 284Income tax decisions.
908. 284AConcessions that defer a charge.
909. 284BProvisions supplementary to section 284A.
910. 285Recognised investment exchanges. Repealed
911. 285AUK Economic Interest Groupings European Economic Interest Groupings
912. 286Connected persons: interpretation.
913. 286AResidence of companies
914. 287Orders and regulations made by the Treasury or the Board.
915. 288Interpretation.
916. 289Commencement.
917. 290Savings, transitionals, consequential amendments and repeals.
918. 291Short title.
919. Schedule A1: Application of taper relief Repealed
920. Introductory Repealed
921. 1Paragraph 1 Repealed
922. Period for which an asset is held and relevant period of ownership Repealed
923. 2Paragraph 2 Repealed
924. Rules for determining whether a gain is a gain on the disposal of a business asset or non-business asset Repealed
925. 3Paragraph 3 Repealed
926. Conditions for shares to qualify as business assets Repealed
927. 4Paragraph 4 Repealed
928. Conditions for other assets to qualify as business assets Repealed
929. 5Paragraph 5 Repealed
930. Companies which are qualifying companies Repealed
931. 6Paragraph 6 Repealed
932. Meaning of “material interest” Repealed
933. 6AParagraph 6A Repealed
934. Persons who are eligible beneficiaries Repealed
935. 7Paragraph 7 Repealed
936. Cases where there are non-qualifying beneficiaries Repealed
937. 8Paragraph 8 Repealed
938. Cases where an asset is used at the same time for different purposes Repealed
939. 9Paragraph 9 Repealed
940. Periods of limited exposure to fluctuations in value not to count Repealed
941. 10Paragraph 10 Repealed
942. Periods of share ownership not to count where there is a change of activity by the company Repealed
943. 11Paragraph 11 Repealed
944. Periods of share ownership not to count if company is not active Repealed
945. 11AParagraph 11A Repealed
946. Periods of share ownership not to count in a case of value shifting Repealed
947. 12Paragraph 12 Repealed
948. Rules for options Repealed
949. 13Paragraph 13 Repealed
950. Further rules for assets derived from other assets Repealed
951. 14Paragraph 14 Repealed
952. Special rules for assets transferred between spouses or civil partners Repealed
953. 15Paragraph 15 Repealed
954. Special rules for postponed gains Repealed
955. 16Paragraph 16 Repealed
956. Special rule for property settled by a company Repealed
957. 17Paragraph 17 Repealed
958. Special rules for assets acquired in the reconstruction of mutual businesses et ceteralaetc. Repealed
959. 18Paragraph 18 Repealed
960. Special rule for ancillary trust funds Repealed
961. 19Paragraph 19 Repealed
962. General rules for settlements Repealed
963. 20Paragraph 20 Repealed
964. General rule for apportionments under this Schedule Repealed
965. 21Paragraph 21 Repealed
966. Interpretation of Schedule Repealed
967. 22Paragraph 22 Repealed
968. Meaning of “trading company” Repealed
969. 22AParagraph 22A Repealed
970. Meaning of “trading group” Repealed
971. 22BParagraph 22B Repealed
972. Qualifying shareholdings in joint venture companies Repealed
973. 23Paragraph 23 Repealed
974. Joint enterprise companies: relevant connection Repealed
975. 24Paragraph 24 Repealed
976. Schedule B1: Disposals of UK residential property interests Repealed
977. Meaning of “disposal of a UK residential property interest” Repealed
978. 1Paragraph 1 Repealed
979. “Interest in UK land” Repealed
980. 2Paragraph 2 Repealed
981. Grants of options Repealed
982. 3Paragraph 3 Repealed
983. Meaning of “dwelling” Repealed
984. 4Paragraph 4 Repealed
985. Power to modify meaning of “use as a dwelling” Repealed
986. 5Paragraph 5 Repealed
987. Damage to a dwelling Repealed
988. 6Paragraph 6 Repealed
989. Demolition of a building Repealed
990. 7Paragraph 7 Repealed
991. Disposal of a building that has undergone works Repealed
992. 8Paragraph 8 Repealed
993. Retrospective planning permission or development consent Repealed
994. 9Paragraph 9 Repealed
995. Interpretation Repealed
996. 10Paragraph 10 Repealed
997. Schedule BA1: Disposals of non-UK residential property interests Repealed
998. Meaning of “disposal of a non-UK residential property interest” Repealed
999. 1Paragraph 1 Repealed
1000. “Interest in non-UK land” Repealed
1001. 2Paragraph 2 Repealed
1002. Grants of options Repealed
1003. 3Paragraph 3 Repealed
1004. Meaning of “dwelling” Repealed
1005. 4Paragraph 4 Repealed
1006. Interpretation Repealed
1007. 5Paragraph 5 Repealed
1008. Schedule C1: Section 14F: meaning of “closely-held company” and “widely-marketed scheme” Repealed
1009. Part 1: Meaning of “closely-held company” Repealed
1010. Introduction Repealed
1011. 1Paragraph 1 Repealed
1012. Main definition Repealed
1013. 2Paragraph 2 Repealed
1014. 3Paragraph 3 Repealed
1015. 4Paragraph 4 Repealed
1016. 5Paragraph 5 Repealed
1017. 6Paragraph 6 Repealed
1018. Meaning of “control” Repealed
1019. 7Paragraph 7 Repealed
1020. 8Paragraph 8 Repealed
1021. Interpretation Repealed
1022. 9Paragraph 9 Repealed
1023. Part 2: Unit trust schemes and OEICs: widely-marketed schemes Repealed
1024. Introduction Repealed
1025. 10Paragraph 10 Repealed
1026. Widely-marketed schemes Repealed
1027. 11Paragraph 11 Repealed
1028. Interpretation Repealed
1029. 12Paragraph 12 Repealed
1030. Schedule D1: Relief for new residents on foreign gains
1031. 1Claim for relief for qualifying new residents
1032. 2Relief for qualifying foreign gains
1033. 3Relief in respect of deemed gains under section 86
1034. 4Relief in respect of deemed gains under sections 87 and 89(2) and Schedule 4C
1035. 5Other effects of claim
1036. 6Interpretation of Schedule
1037. Schedule 1: UK resident individuals to whom the remittance basis applied
1038. Foreign gains treated as accruing when remitted to UK
1039. 1Paragraph 1
1040. Use of allowable losses against foreign gains remitted in later year
1041. 2Paragraph 2 Repealed
1042. Matching rules for relieving allowable losses
1043. 3Paragraph 3 Repealed
1044. Rules for matching losses to chargeable gains
1045. 4Paragraph 4 Repealed
1046. Definitions
1047. 5Paragraph 5
1048. Schedule 1A: Assets deriving 75% of value from UK land etc
1049. Part 1: Introduction
1050. 1Paragraph 1
1051. 2Paragraph 2
1052. Part 2: Whether asset derives at least 75% of its value from UK land
1053. The basic rule
1054. 3Paragraph 3
1055. Meaning of “qualifying assets”
1056. 4Paragraph 4
1057. Exception in relation to interests in UK land used for trading purposes
1058. 5Paragraph 5
1059. Exception for certain disposals of rights or interests under same arrangements etc
1060. 6Paragraph 6
1061. Meaning of “interest in UK land”
1062. 7Paragraph 7
1063. Part 3: Whether person has substantial indirect interest in UK land
1064. Basic rule
1065. 8Paragraph 8
1066. Meaning of “25% investment”
1067. 9Paragraph 9
1068. Attribution of rights and interests
1069. 10Paragraph 10
1070. Part 4: Cell companies and anti-avoidance
1071. Cell companies
1072. 10AParagraph 10A
1073. Anti-avoidance
1074. 11Paragraph 11
1075. Schedule 1B: Residential property gains Repealed
1076. Meaning of “residential property gain” Repealed
1077. 1Paragraph 1 Repealed
1078. Attribution of gain to residential property Repealed
1079. 2Paragraph 2 Repealed
1080. Disposing of residential property Repealed
1081. 3Paragraph 3 Repealed
1082. Interest in land Repealed
1083. 4Paragraph 4 Repealed
1084. Dwelling: basic meaning Repealed
1085. 5Paragraph 5 Repealed
1086. Building temporarily unsuitable for use as a dwelling Repealed
1087. 6Paragraph 6 Repealed
1088. Disposal of a building that has undergone works Repealed
1089. 7Paragraph 7 Repealed
1090. Other definitions Repealed
1091. 8Paragraph 8 Repealed
1092. Power to modify meaning of “use as a dwelling” Repealed
1093. 9Paragraph 9 Repealed
1094. Regulations Repealed
1095. 10Paragraph 10 Repealed
1096. Schedule 1C: Annual exempt amount in cases involving settled property
1097. Introductory
1098. 1Paragraph 1
1099. Settlements for the benefit of disabled persons
1100. 2Paragraph 2
1101. 3Paragraph 3
1102. 4Paragraph 4
1103. Other settlements
1104. 5Paragraph 5
1105. Special rules for qualifying UK settlements comprised in groups
1106. 6Paragraph 6
1107. 7Paragraph 7
1108. Special rules for principal settlements and sub-funds
1109. 8Paragraph 8
1110. Schedule 2: Assets held on 6th April 1965
1111. Part I: Quoted securities
1112. Deemed acquisition at 6th April 1965 value
1113. 1Paragraph 1
1114. Restriction of gain or loss by reference to actual cost
1115. 2Paragraph 2
1116. 3Paragraph 3
1117. Election for pooling
1118. 4Paragraph 4
1119. Election by principal company of group
1120. 5Paragraph 5
1121. Pooling at value on 6th April 1965: exchange of securities etc.
1122. 6Paragraph 6
1123. Underwriters
1124. 7Paragraph 7
1125. Interpretation of paragraphs 3 to 7
1126. 8Paragraph 8
1127. Part II: Land reflecting development value
1128. 9Paragraph 9
1129. 10Paragraph 10
1130. 11Paragraph 11
1131. 12Paragraph 12
1132. 13Paragraph 13
1133. 14Paragraph 14
1134. 15Paragraph 15
1135. Part III: Other assets
1136. Apportionment by reference to straightline growth of gain or loss over period of ownership
1137. 16Paragraph 16
1138. Election for valuation at 6th April 1965
1139. 17Paragraph 17
1140. Unquoted shares, commodities etc.
1141. 18Paragraph 18
1142. Reorganisation of share capital, conversion of securities etc.
1143. 19Paragraph 19
1144. Part IV: Miscellaneous
1145. Capital allowances
1146. 20Paragraph 20
1147. Assets transferred to close companies
1148. 21Paragraph 21
1149. Spouses and civil partners
1150. 22Paragraph 22 Repealed
1151. Compensation and insurance money
1152. 23Paragraph 23
1153. Schedule 3: Assets held on 31st March 1982
1154. Previous no gain/no loss disposals
1155. 1Paragraph 1
1156. 1AParagraph 1A
1157. 2Paragraph 2
1158. Capital allowances
1159. 3Paragraph 3
1160. Part disposals etc.
1161. 4Paragraph 4
1162. Assets derived from other assets
1163. 5Paragraph 5
1164. Apportionment of pre-1965 gains and losses
1165. 6Paragraph 6
1166. Elections under section section 35(5): excluded disposals
1167. 7Paragraph 7
1168. Elections under section 35(5): groups of companies
1169. 8Paragraph 8
1170. 9Paragraph 9
1171. Schedule 4: Deferred charges on gains before 31st March 1982
1172. Application of Schedule
1173. A1Paragraph A1
1174. Reduction of deduction or gain
1175. 1Paragraph 1
1176. Charges rolled-over or held-over
1177. 2Paragraph 2
1178. 3Paragraph 3
1179. Postponed charges
1180. 4Paragraph 4
1181. Previous no gain/no loss disposals
1182. 5Paragraph 5
1183. 6Paragraph 6
1184. 7Paragraph 7
1185. Assets derived from other assets
1186. 8Paragraph 8
1187. Claims
1188. 9Paragraph 9
1189. Schedule 4ZZA: Relevant high value disposals: gains and losses Repealed
1190. Introductory Repealed
1191. 1Paragraph 1 Repealed
1192. Assets held on 5 April 2013, 5 April 2015 or 5 April 2016: no paragraph 5 election Repealed
1193. 2Paragraph 2 Repealed
1194. 3Paragraph 3 Repealed
1195. 4Paragraph 4 Repealed
1196. Election for paragraph 2 to 4 not to apply to a chargeable interest Repealed
1197. 5Paragraph 5 Repealed
1198. Cases where election made or or none of Cases 1 to 3 apply Repealed
1199. 6Paragraph 6 Repealed
1200. Special rule for certain disposals to which both this Schedule and Schedule 4ZZB relate Repealed
1201. 6AParagraph 6A Repealed
1202. Adjustments of ATED chargeable days Repealed
1203. 7Paragraph 7 Repealed
1204. Wasting assets Repealed
1205. 8Paragraph 8 Repealed
1206. Capital allowances Repealed
1207. 9Paragraph 9 Repealed
1208. Schedule 4ZZB: Non-resident CGT disposals: gains and losses Repealed
1209. Part 1: Introduction Repealed
1210. 1Paragraph 1 Repealed
1211. Part 2: Elections for alternative methods of computation Repealed
1212. 2Paragraph 2 Repealed
1213. 3Paragraph 3 Repealed
1214. Part 3: Main computation rules Repealed
1215. Disposals to which this Part applies Repealed
1216. 4Paragraph 4 Repealed
1217. Introduction to paragraphs 6 to 8 Repealed
1218. 5Paragraph 5 Repealed
1219. Assets held at 5 April 2015: default method Repealed
1220. 6Paragraph 6 Repealed
1221. 7Paragraph 7 Repealed
1222. Modified application of paragraphs 5 to 7 where election made for straight-line time apportionment Repealed
1223. 8Paragraph 8 Repealed
1224. Cases where asset acquired after 5 April 2015 or election made under paragraph 2(1)(b) Repealed
1225. 9Paragraph 9 Repealed
1226. Interest subsisting under contract for off-plan purchase Repealed
1227. 10Paragraph 10 Repealed
1228. Part 4: Cases involving relevant high value disposals Repealed
1229. Overview Repealed
1230. 11Paragraph 11 Repealed
1231. Disposal involving one or more relevant high value disposals Repealed
1232. 12Paragraph 12 Repealed
1233. Assets held at 5 April 2015 (where no election made and no rebasing in 2016 required) Repealed
1234. 13Paragraph 13 Repealed
1235. Asset acquired after 5 April 2015 or election made under paragraph 2(1)(b) (but no rebasing in 2016 required) Repealed
1236. 14Paragraph 14 Repealed
1237. Certain disposals after 5 April 2016 (computation involving additional rebasing in 2016) Repealed
1238. 15Paragraph 15 Repealed
1239. Amount of gain or loss that is neither ATED-related nor an NRCGT gain or loss Repealed
1240. 16Paragraph 16 Repealed
1241. 17Paragraph 17 Repealed
1242. 18Paragraph 18 Repealed
1243. 19Paragraph 19 Repealed
1244. Where relevant high value disposal and “other” disposal are comprised in the disposal of land Repealed
1245. 20Paragraph 20 Repealed
1246. Interest subsisting under contract for off-plan purchase Repealed
1247. 21Paragraph 21 Repealed
1248. Part 5: Special rules for companies Repealed
1249. 22Paragraph 22 Repealed
1250. Indexation Repealed
1251. 23Paragraph 23 Repealed
1252. Part 6: Miscellaneous provisions Repealed
1253. Wasting assets Repealed
1254. 24Paragraph 24 Repealed
1255. Capital allowances Repealed
1256. 25Paragraph 25 Repealed
1257. Part 7: Interpretation Repealed
1258. 26Paragraph 26 Repealed
1259. Schedule 4ZZC: Disposals of residential property interests: gains and losses Repealed
1260. Part 1: Introduction and interpretation Repealed
1261. Introduction Repealed
1262. 1Paragraph 1 Repealed
1263. Interpretation Repealed
1264. 2Paragraph 2 Repealed
1265. Part 2: RPI disposals not involving relevant high value disposals Repealed
1266. Application of Part Repealed
1267. 3Paragraph 3 Repealed
1268. Computation of residential property gains and losses Repealed
1269. 4Paragraph 4 Repealed
1270. Computation of balancing gains and loses Repealed
1271. 5Paragraph 5 Repealed
1272. Interest subsisting under contract for off-plan purchase Repealed
1273. 6Paragraph 6 Repealed
1274. Part 3: RPI disposals involving relevant high value disposals Repealed
1275. Application of Part Repealed
1276. 7Paragraph 7 Repealed
1277. Interpretation of Part Repealed
1278. 8Paragraph 8 Repealed
1279. Computation of residential property gains or losses on the RPI disposal Repealed
1280. 9Paragraph 9 Repealed
1281. Computation of residential property gains or losses on relevant high value disposal not within Case 1, 2 or 3 (or where an election is made) Repealed
1282. 10Paragraph 10 Repealed
1283. Computation of residential property gains and losses on relevant high value disposal within Case 1, 2 or 3 (and no election made) Repealed
1284. 11Paragraph 11 Repealed
1285. 12Paragraph 12 Repealed
1286. 13Paragraph 13 Repealed
1287. 14Paragraph 14 Repealed
1288. 15Paragraph 15 Repealed
1289. Computation of balancing gains or losses on the RPI disposal Repealed
1290. 16Paragraph 16 Repealed
1291. Computation of balancing gains or losses on relevant high value disposal not within Case 1, 2 or 3 (or where an election is made) Repealed
1292. 17Paragraph 17 Repealed
1293. Computation of balancing gains or losses on relevant high value disposal within Case 1, 2 or 3 (and no election made) Repealed
1294. 18Paragraph 18 Repealed
1295. Relevant high value disposal and “other” disposal are comprised in the disposal of land Repealed
1296. 19Paragraph 19 Repealed
1297. Interest subsisting under contract for off-plan purchase Repealed
1298. 20Paragraph 20 Repealed
1299. Schedule 4ZA: Sub-fund settlements
1300. Making a sub-fund election
1301. 1Paragraph 1
1302. 2Paragraph 2
1303. 3Paragraph 3
1304. 4Paragraph 4
1305. 5Paragraph 5
1306. 6Paragraph 6
1307. 7Paragraph 7
1308. 8Paragraph 8
1309. 9Paragraph 9
1310. Sub-fund elections: procedure
1311. 10Paragraph 10
1312. 11Paragraph 11
1313. 12Paragraph 12
1314. 13Paragraph 13
1315. Power to make enquiries
1316. 14Paragraph 14 Repealed
1317. 15Paragraph 15 Repealed
1318. 16Paragraph 16 Repealed
1319. Consequences of a sub-fund election
1320. 17Paragraph 17
1321. 18Paragraph 18
1322. 19Paragraph 19
1323. 20Paragraph 20
1324. 21Paragraph 21
1325. 22Paragraph 22
1326. Schedule 4A: Disposal of interest in settled property: deemed disposal of underlying assets
1327. Circumstances in which this Schedule applies
1328. 1Paragraph 1
1329. Meaning of “interest in settled property”
1330. 2Paragraph 2
1331. Meaning of “for consideration”
1332. 3Paragraph 3
1333. Deemed disposal of underlying assets
1334. 4Paragraph 4
1335. Condition as to UK residence of trustees
1336. 5Paragraph 5
1337. Condition as to UK residence of settlor
1338. 6Paragraph 6
1339. Condition as to settlor interest in the settlement
1340. 7Paragraph 7
1341. The relevant underlying assets
1342. 8Paragraph 8
1343. Character of deemed disposal
1344. 9Paragraph 9
1345. Avoidance of double-counting
1346. 10Paragraph 10
1347. Recovery of tax from person disposing of interest
1348. 11Paragraph 11
1349. Meaning of “settlor”
1350. 12Paragraph 12
1351. Cases where there is a period between the beginning of the disposal and its effective completion
1352. 13Paragraph 13
1353. Exception: maintenance funds for historic buildings
1354. 14Paragraph 14
1355. Schedule 4AA: Re-basing for non-residents in respect of UK land etc held on 5 April 2019
1356. Part 1: Introduction
1357. 1Paragraph 1
1358. Part 2: Indirect disposals and direct disposals not chargeable before 6 April 2019
1359. Introduction
1360. 2Paragraph 2
1361. Re-basing to 5 April 2019
1362. 3Paragraph 3
1363. Election for retrospective basis of calculation
1364. 4Paragraph 4
1365. Calculation of residential property gain if election made under paragraph 4
1366. 5Paragraph 5 Repealed
1367. Part 3: Direct disposals of Pre-April 2015 assets fully chargeable before 6 April 2019
1368. Introduction
1369. 6Paragraph 6
1370. Re-basing to 5 April 2015
1371. 7Paragraph 7
1372. Election for retrospective basis of calculation
1373. 8Paragraph 8
1374. Election for straight-line time apportionment
1375. 9Paragraph 9
1376. Calculation of residential property gain if election made under paragraph 8 or 9
1377. 10Paragraph 10 Repealed
1378. 11Paragraph 11 Repealed
1379. Part 4: Direct disposals of assets partly chargeable before 6 April 2019
1380. Introduction
1381. 12Paragraph 12
1382. Re-basing to 5 April 2015 and 5 April 2019
1383. 13Paragraph 13
1384. Election for retrospective basis of calculation
1385. 14Paragraph 14
1386. Calculation of residential property gain if election made under paragraph 14
1387. 15Paragraph 15 Repealed
1388. Part 5: Miscellaneous
1389. Companies with UK land becoming UK resident after 5 April 2019
1390. 16Paragraph 16
1391. Persons with UK land ceasing to be UK resident after 5 April 2019
1392. 17Paragraph 17
1393. 18Paragraph 18
1394. Wasting assets
1395. 19Paragraph 19
1396. Capital allowances
1397. 20Paragraph 20
1398. Making of elections
1399. 21Paragraph 21
1400. Interpretation
1401. 22Paragraph 22
1402. Schedule 4B: Transfers of value by trustees linked with trustee borrowing
1403. General scheme of this Schedule
1404. 1Paragraph 1
1405. Transfers of value
1406. 2Paragraph 2
1407. Settlements within section ... 86 or 87
1408. 3Paragraph 3
1409. Trustee borrowing
1410. 4Paragraph 4
1411. Transfer of value linked with trustee borrowing
1412. 5Paragraph 5
1413. Application of proceeds of borrowing for normal trust purposes
1414. 6Paragraph 6
1415. Ordinary trust assets
1416. 7Paragraph 7
1417. The alternative condition for assets no longer part of the settled property
1418. 8Paragraph 8
1419. Normal trust purposes: power to make provision by regulations
1420. 9Paragraph 9
1421. Deemed disposal of remaining chargeable assets
1422. 10Paragraph 10
1423. Whether deemed disposal is of whole or a proportion of the assets
1424. 11Paragraph 11
1425. Value attributable to trustee borrowing
1426. 12Paragraph 12
1427. Assets and transfers
1428. 13Paragraph 13
1429. Schedule 4C: Transfers of value: attribution of gains to beneficiaries
1430. Introduction
1431. 1Paragraph 1
1432. Outstanding section 1(3) amounts
1433. 1AParagraph 1A
1434. Computation of Schedule 4B trust gains
1435. 3Paragraph 3
1436. Chargeable amount: non-resident settlement
1437. 4Paragraph 4
1438. Chargeable amount: dual resident settlement
1439. 5Paragraph 5
1440. Gains attributed to settlor
1441. 6Paragraph 6
1442. Reduction for allowable losses
1443. 7Paragraph 7
1444. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1445. 7AParagraph 7A Repealed
1446. Gains to be brought into pool on subsequent transfer of value
1447. 7BParagraph 7B
1448. Attribution of Schedule 4C gains to beneficiaries
1449. 8Paragraph 8
1450. Relevant settlements
1451. 8AParagraph 8A
1452. Attribution of gains: remittance basis
1453. 8AAParagraph 8AA
1454. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1455. 8BParagraph 8B Repealed
1456. Attribution of gains: Schedule 4C pool gains and other gains
1457. 8CParagraph 8C Repealed
1458. Attribution of gains: disregard of certain capital payments
1459. 9Paragraph 9
1460. Residence of trustees from whom capital payment received
1461. 10Paragraph 10
1462. Taper relief
1463. 11Paragraph 11 Repealed
1464. Attribution of gains to settlor in section 1M cases
1465. 12Paragraph 12
1466. Attribution of gains to beneficiaries in section 1M cases
1467. 12AParagraph 12A
1468. Increase in tax payable under this Schedule
1469. 13Paragraph 13
1470. Effect of settlement ceasing to exist after transfer of value
1471. 13AParagraph 13A
1472. Interpretation
1473. 14Paragraph 14
1474. Schedule 5: Attribution of gains to settlors with interest in non-resident or dual resident settlement
1475. Construction of section 86(1)(e)
1476. 1Paragraph 1
1477. Test whether settlor has interest
1478. 2Paragraph 2
1479. Settlements created before 17th March 1998
1480. 2AParagraph 2A
1481. Exceptions from section 86
1482. 3Paragraph 3
1483. 4Paragraph 4
1484. 5Paragraph 5
1485. 5AParagraph 5A Repealed
1486. 5BParagraph 5B Repealed
1487. Old section 87 rebasing elections to apply in relation to section 86
1488. 5CParagraph 5C
1489. Right of recovery
1490. 6Paragraph 6
1491. Meaning of “settlor"
1492. 7Paragraph 7
1493. Meaning of “originating"
1494. 8Paragraph 8
1495. Qualifying settlements, and commencement
1496. 9Paragraph 9
1497. Information
1498. 10Paragraph 10 Repealed
1499. 11Paragraph 11 Repealed
1500. 12Paragraph 12 Repealed
1501. 13Paragraph 13 Repealed
1502. 14Paragraph 14 Repealed
1503. Schedule 5A: Settlements with foreign element: information
1504. 1Paragraph 1
1505. 2Paragraph 2
1506. 3Paragraph 3
1507. 4Paragraph 4
1508. 5Paragraph 5
1509. 6Paragraph 6
1510. Schedule 5AZA: Meaning of “scheme of reconstruction”
1511. Introductory
1512. 1Paragraph 1
1513. Form of scheme
1514. 2Paragraph 2
1515. First condition: issue of units
1516. 3Paragraph 3
1517. Second condition: equal entitlement to new units
1518. 4Paragraph 4
1519. Preliminary reorganisation of units to be disregarded
1520. 5Paragraph 5
1521. Subsequent issue of units to be disregarded
1522. 6Paragraph 6
1523. Schedule 5AA: Meaning of “scheme of reconstruction”
1524. Introductory
1525. 1Paragraph 1
1526. First condition: issue of ordinary share capital
1527. 2Paragraph 2
1528. Second condition: equal entitlement to new shares
1529. 3Paragraph 3
1530. Third condition: continuity of business
1531. 4Paragraph 4
1532. Fourth condition: compromise or arrangement with members
1533. 5Paragraph 5
1534. Preliminary reorganisation of share capital to be disregarded
1535. 6Paragraph 6
1536. Subsequent issue of shares or debentures to be disregarded
1537. 7Paragraph 7
1538. Interpretation
1539. 8Paragraph 8
1540. Schedule 5AAA: UK property rich collective investment vehicles etc
1541. Part 1: Introduction: key expressions
1542. Meaning of “collective investment vehicle”, “participant” and “unit”
1543. 1Paragraph 1
1544. Meaning of “offshore collective investment vehicle”
1545. 2Paragraph 2
1546. Meaning of a collective investment vehicle being “UK property rich” etc
1547. 3Paragraph 3
1548. Part 2: Basic rules
1549. Application of Act to offshore CIV
1550. 4Paragraph 4
1551. Units in certain co-ownership schemes treated as shares in a company
1552. 5Paragraph 5
1553. Disposals by non-UK residents
1554. 6Paragraph 6
1555. 7Paragraph 7
1556. 7AOverseas life insurance companies
1557. 7BOffshore collective investment vehicles (other than UK feeder vehicles) that meet the conditions in paragraph 7(2)(a) and (b)
1558. Part 3: Election for transparency
1559. Election for collective investment vehicle to be treated as partnership
1560. 8Paragraph 8
1561. Further provision about election
1562. 9Paragraph 9
1563. Units in CIVs held by life insurance companies
1564. 10Paragraph 10
1565. Relationship to re-basing rules under Schedule 4AA for non-UK residents
1566. 11Paragraph 11
1567. Part 4: Exemption
1568. Exemption for qualifying offshore CIV that is UK property rich etc
1569. 12Paragraph 12
1570. Qualifying conditions and information provided to HMRC
1571. 13Paragraph 13
1572. 14Paragraph 14
1573. 15Paragraph 15
1574. Exemption for direct or indirect disposals of UK land by persons in which fund invests
1575. 16Paragraph 16
1576. Making of election and period for which it has effect
1577. 17Paragraph 17
1578. Revocation of election
1579. 18Paragraph 18
1580. 19Paragraph 19
1581. Qualifying fund or company ceasing to meet applicable exemption conditions
1582. 20Paragraph 20
1583. Deemed disposal: payments not otherwise taxable where value derived from direct or indirect disposals of UK land
1584. 21Paragraph 21
1585. Deemed disposal if election ceases to have effect
1586. 22Paragraph 22
1587. Gains accruing on disposals under paragraph 21 or 22
1588. 23Paragraph 23
1589. Relief for expenses in the case of deemed disposals under paragraph 21 or 22
1590. 24Paragraph 24
1591. Notification to participants in relation to deemed disposals under paragraph 21 or 22
1592. 25Paragraph 25
1593. 26Paragraph 26
1594. Temporary period during which applicable exemption conditions not met
1595. 27Paragraph 27
1596. 28Paragraph 28
1597. 29Paragraph 29
1598. Steps taken by relevant fund manager to wind up relevant fund
1599. 30Paragraph 30
1600. Deemed disposals of UK land by companies previously owned by fund
1601. 31Paragraph 31
1602. Deemed disposals of UK land by company or fund ceasing to be qualifying etc
1603. 32Paragraph 32
1604. Exemption for disposals by companies wholly owned by certain investors
1605. 33Paragraph 33
1606. Disapplication of paragraphs 5 and 6 of Schedule 1A
1607. 33AParagraph 33A
1608. Disapplication of paragraph 3A of Schedule 7AC: qualifying institutional investors
1609. 34Paragraph 34
1610. Relationship between rules in this Part and REIT rules in Part 12 of CTA 2010
1611. 35Paragraph 35
1612. 36Paragraph 36
1613. Separate application of exemptions under this Schedule and elsewhere
1614. 37Paragraph 37
1615. Meaning of meeting “the applicable exemption conditions”
1616. 38Paragraph 38
1617. Meaning of “the relevant fund” and “the relevant fund manager”
1618. 39Paragraph 39
1619. Meaning of “wholly owned” or “wholly (or almost wholly) owned”
1620. 40Paragraph 40
1621. 41Paragraph 41
1622. Meaning of “designated HMRC officer”
1623. 42Paragraph 42
1624. Part 5: Reporting and payment
1625. Reporting by collective investment vehicles
1626. 43Paragraph 43
1627. Withholding of amounts on account of capital gains tax
1628. 44Paragraph 44
1629. General
1630. 45Paragraph 45
1631. Part 6: General
1632. Meaning of “close company”, “qualifying investor” and “direct or indirect participator”
1633. 46Paragraph 46
1634. References to regulation 75(3) of the Offshore Funds (Tax) Regulations 2009
1635. 46AParagraph 46A
1636. Other definitions
1637. 47Paragraph 47
1638. Power to make provision in relation to UK property rich collective investment vehicles etc
1639. 48Paragraph 48
1640. Part 7: Transitional provision
1641. Elections for transparency under paragraph 8
1642. 49Paragraph 49
1643. 49AParagraph 49A
1644. Elections under paragraph 12 and information about disposals by participants
1645. 50Paragraph 50
1646. Genuine diversity of ownership condition in case of existing funds
1647. 51Paragraph 51
1648. Schedule 5B: Enterprise investment scheme: re-investment
1649. Application of Schedule
1650. 1Paragraph 1
1651. Failure of conditions of application
1652. 1AParagraph 1A
1653. Postponement of original gain
1654. 2Paragraph 2
1655. Chargeable events
1656. 3Paragraph 3
1657. Gain accruing on chargeable event
1658. 4Paragraph 4
1659. Person to whom gain accrues
1660. 5Paragraph 5
1661. Claims
1662. 6Paragraph 6
1663. Reorganisations
1664. 7Paragraph 7
1665. Acquisition of share capital by new company
1666. 8Paragraph 8
1667. Other reconstructions and amalgamations
1668. 9Paragraph 9
1669. Re-investment in same company etc.
1670. 10Paragraph 10
1671. Pre-arranged exits
1672. 11Paragraph 11
1673. Disqualifying arrangements
1674. 11AParagraph 11A
1675. Put options and call options
1676. 12Paragraph 12
1677. Value received by investor
1678. 13Paragraph 13
1679. Provision supplemental to paragraph 13
1680. 13AParagraph 13A
1681. Receipt of replacement value
1682. 13BParagraph 13B
1683. Provision supplemental to paragraph 13B
1684. 13CParagraph 13C
1685. Value received by other persons
1686. 14Paragraph 14
1687. Insignificant repayments disregarded for purposes of paragraph 14
1688. 14AAParagraph 14AA
1689. Certain receipts to be disregarded for purposes of paragraph 14
1690. 14AParagraph 14A
1691. Investment-linked loans
1692. 15Paragraph 15
1693. Information
1694. 16Paragraph 16
1695. Trustees: general
1696. 17Paragraph 17
1697. Trustees: anti-avoidance
1698. 18Paragraph 18
1699. Interpretation
1700. 19Paragraph 19
1701. Schedule 5BA: Enterprise investment scheme: application of taper relief Repealed
1702. Application of Schedule Repealed
1703. 1Paragraph 1 Repealed
1704. Taper relief on revived gains Repealed
1705. 2Paragraph 2 Repealed
1706. Qualifying holding period Repealed
1707. 3Paragraph 3 Repealed
1708. Periods that do not count Repealed
1709. 4Paragraph 4 Repealed
1710. Gains on disposal of business or non-business assets Repealed
1711. 5Paragraph 5 Repealed
1712. Savings Repealed
1713. 6Paragraph 6 Repealed
1714. Relevant re-investment shares Repealed
1715. 7Paragraph 7 Repealed
1716. Derivation of gains Repealed
1717. 8Paragraph 8 Repealed
1718. Interpretation Repealed
1719. 9Paragraph 9 Repealed
1720. Schedule 5BB: Seed enterprise investment scheme: re-investment
1721. SEIS re-investment relief
1722. 1Paragraph 1
1723. Restrictions on relief under paragraph 1
1724. 2Paragraph 2
1725. Claims
1726. 3Paragraph 3
1727. Attribution of SEIS re-investment relief to relevant SEIS shares
1728. 4Paragraph 4
1729. Removal or reduction of the relief
1730. 5Paragraph 5
1731. Transfers of shares to spouses and civil partners
1732. 6Paragraph 6
1733. Adjustment of capital gains tax liability
1734. 7Paragraph 7
1735. Interpretation etc
1736. 8Paragraph 8
1737. Schedule 5C: Venture capital trusts: deferred charge on re-investment
1738. Application of Schedule Repealed
1739. 1Paragraph 1 Repealed
1740. The postponement of the original gain Repealed
1741. 2Paragraph 2 Repealed
1742. Chargeable events Repealed
1743. 3Paragraph 3 Repealed
1744. Gain accruing on chargeable event Repealed
1745. 4Paragraph 4 Repealed
1746. Persons to whom gain accrues Repealed
1747. 5Paragraph 5 Repealed
1748. Interpretation Repealed
1749. 6Paragraph 6 Repealed
1750. Schedule 6: Retirement relief etc. Repealed
1751. Part I: Interpretation Repealed
1752. 1Paragraph 1 Repealed
1753. 2Paragraph 2 Repealed
1754. 3Paragraph 3 Repealed
1755. 4Paragraph 4 Repealed
1756. Part II: The operation of the relief Repealed
1757. Disposals on which relief may be given Repealed
1758. 5Paragraph 5 Repealed
1759. Gains qualifying for relief Repealed
1760. 6Paragraph 6 Repealed
1761. 7Paragraph 7 Repealed
1762. 8Paragraph 8 Repealed
1763. 9Paragraph 9 Repealed
1764. 10Paragraph 10 Repealed
1765. 11Paragraph 11 Repealed
1766. 12Paragraph 12 Repealed
1767. The amount available for relief: the basic rule Repealed
1768. 13Paragraph 13 Repealed
1769. Aggregation of earlier business periods Repealed
1770. 14Paragraph 14 Repealed
1771. Relief given on earlier disposal Repealed
1772. 15Paragraph 15 Repealed
1773. Aggregation of spouse’s interest in the business Repealed
1774. 16Paragraph 16 Repealed
1775. Schedule 7: Relief for gifts of business assets
1776. Part I: Agricultural property and settled property
1777. Agricultural property
1778. 1Paragraph 1
1779. Settled property
1780. 2Paragraph 2
1781. 3Paragraph 3
1782. Part II: Reductions in held-over gain
1783. Application and interpretation
1784. 4Paragraph 4
1785. Reductions peculiar to disposals of assets
1786. 5Paragraph 5
1787. 6Paragraph 6
1788. Reduction peculiar to disposal of shares
1789. 7Paragraph 7
1790. Reduction where gain partly relieved by retirement relief
1791. 8Paragraph 8 Repealed
1792. Schedule 7ZA: Business asset disposal relief: “trading company” and “trading group”
1793. Part 1: Meaning of “trading company” and “trading group”
1794. 1Paragraph 1
1795. 2Paragraph 2
1796. Part 2: Joint venture companies
1797. Attribution of activities of a joint venture company
1798. 3Paragraph 3
1799. Meaning of “investing company”
1800. 4Paragraph 4
1801. Shareholding test
1802. 5Paragraph 5
1803. 6Paragraph 6
1804. 7Paragraph 7
1805. 8Paragraph 8
1806. Voting rights test
1807. 9Paragraph 9
1808. 10Paragraph 10
1809. 11Paragraph 11
1810. 12Paragraph 12
1811. Part 3: Partnerships
1812. Activities of a company as a member of a partnership
1813. 13Paragraph 13
1814. Meaning of “direct interest company” and “relevant corporate partner”
1815. 14Paragraph 14
1816. Profits and assets test
1817. 15Paragraph 15
1818. 16Paragraph 16
1819. 17Paragraph 17
1820. 18Paragraph 18
1821. 19Paragraph 19
1822. 20Paragraph 20
1823. Voting rights test
1824. 21Paragraph 21
1825. 22Paragraph 22
1826. 23Paragraph 23
1827. Part 4: Interpretation of this schedule
1828. Meaning of “P”
1829. 24Paragraph 24
1830. Meaning of “relevant period”
1831. 25Paragraph 25
1832. Other interpretation provisions
1833. 26Paragraph 26
1834. Schedule 7ZB: Investors' relief: disqualification of shares
1835. Disqualification of shares where value received in period of restriction
1836. 1Paragraph 1
1837. “Receives value”
1838. 2Paragraph 2
1839. Amount of value
1840. 3Paragraph 3
1841. Receipt of replacement value
1842. 4Paragraph 4
1843. 5Paragraph 5
1844. Interpretation
1845. 6Paragraph 6
1846. Schedule 7A: Restriction on set-off of pre-entry losses
1847. Application and construction of Schedule
1848. 1Paragraph 1
1849. Pre-entry proportion of losses on pre-entry assets
1850. 2Paragraph 2 Repealed
1851. Disposals of pooled assets
1852. 3Paragraph 3 Repealed
1853. Rule to prevent pre-entry losses on pooled assets being treated as post-entry losses
1854. 4Paragraph 4 Repealed
1855. Alternative calculation by reference to market value
1856. 5Paragraph 5 Repealed
1857. Restrictions on the deduction of pre-entry losses
1858. 6Paragraph 6
1859. Gains from which pre-entry losses are to be deductible
1860. 7Paragraph 7
1861. Change of a company’s nature
1862. 8Paragraph 8
1863. Identification of “the relevant group" and application of Schedule to every connected group
1864. 9Paragraph 9 Repealed
1865. Appropriations to stock in trade
1866. 10Paragraph 10
1867. 10AParagraph 10A
1868. Continuity provisions
1869. 11Paragraph 11
1870. Companies changing groups on certain transfers of shares etc.
1871. 12Paragraph 12
1872. Schedule 7AA: Restrictions on setting losses against pre-entry gains Repealed
1873. Introductory Repealed
1874. 1Paragraph 1 Repealed
1875. Restriction on setting off losses Repealed
1876. 2Paragraph 2 Repealed
1877. Adjustment of pre-entry gains Repealed
1878. 3Paragraph 3 Repealed
1879. Meaning of “qualifying losses" Repealed
1880. 4Paragraph 4 Repealed
1881. Special rule for disposal of pooled assets Repealed
1882. 5Paragraph 5 Repealed
1883. Special rule for losses on disposal of certain assets acquired at different times Repealed
1884. 6Paragraph 6 Repealed
1885. Special rule for gains and losses on deemed annual disposal Repealed
1886. 7Paragraph 7 Repealed
1887. Schedule 7AB: Roll-over of degrouping charge: modification of enactments Repealed
1888. Introductory Repealed
1889. 1Paragraph 1 Repealed
1890. Section 152 Repealed
1891. 2Paragraph 2 Repealed
1892. Section 153 Repealed
1893. 3Paragraph 3 Repealed
1894. Section 153A Repealed
1895. 4Paragraph 4 Repealed
1896. Section 155 Repealed
1897. 5Paragraph 5 Repealed
1898. Section 159 Repealed
1899. 6Paragraph 6 Repealed
1900. Section 175 Repealed
1901. 7Paragraph 7 Repealed
1902. Section 185 Repealed
1903. 8Paragraph 8 Repealed
1904. Section 198 Repealed
1905. 9Paragraph 9 Repealed
1906. Schedule 22 to the Finance Act 2000 Repealed
1907. 10Paragraph 10 Repealed
1908. Schedule 7AC: Exemptions for disposals by companies with substantial shareholding
1909. Part 1: The exemptions
1910. The main exemption
1911. 1Paragraph 1
1912. Subsidiary exemption: disposal of asset related to shares where main exemption conditions met
1913. 2Paragraph 2
1914. Subsidiary exemption: disposal of shares or related asset where main exemption conditions previously met
1915. 3Paragraph 3
1916. Subsidiary exemption: qualifying institutional investors
1917. 3AParagraph 3A
1918. 3BParagraph 3B
1919. Application of exemptions in priority to provisions deeming there to be no disposal etc
1920. 4Paragraph 4
1921. Circumstances in which exemptions do not apply
1922. 5Paragraph 5
1923. Other cases excluded from exemptions
1924. 6Paragraph 6
1925. Part 2: The substantial shareholding requirement
1926. The requirement
1927. 7Paragraph 7
1928. Meaning of “substantial shareholding"
1929. 8Paragraph 8
1930. 8AParagraph 8A
1931. Aggregation of holdings of group companies
1932. 9Paragraph 9
1933. Effect of earlier no-gain/no-loss transfer
1934. 10Paragraph 10
1935. Effect of deemed disposal and reacquisition
1936. 11Paragraph 11
1937. Effect of repurchase agreement
1938. 12Paragraph 12
1939. Effect of stock lending arrangements
1940. 13Paragraph 13
1941. Effect in relation to company invested in of earlier company reconstruction etc
1942. 14Paragraph 14
1943. Effect in relation to company invested in of earlier demerger
1944. 15Paragraph 15
1945. Effect of transfer of trading assets within a group
1946. 15AParagraph 15A
1947. Effect of investing company’s liquidation
1948. 16Paragraph 16
1949. Special rules for assets of insurance company held for the purposes of its long-term business
1950. 17Paragraph 17
1951. Part 3: Requirements to be met in relation to ... company invested in
1952. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1953. 18Paragraph 18 Repealed
1954. Requirements relating to the company invested in
1955. 19Paragraph 19
1956. Meaning of “trading company"
1957. 20Paragraph 20
1958. Meaning of “trading group"
1959. 21Paragraph 21
1960. Meaning of “trading subgroup"
1961. 22Paragraph 22
1962. Treatment of holdings in joint venture companies
1963. 23Paragraph 23
1964. Meaning of “joint venture company" and “qualifying shareholding"
1965. 24Paragraph 24
1966. Effect in relation to company invested in of earlier company reconstruction, demerger etc
1967. 25Paragraph 25
1968. Part 4: Interpretation
1969. Meaning of “company", “group" and related expressions
1970. 26Paragraph 26
1971. Meaning of “trade"
1972. 27Paragraph 27
1973. Meaning of “twelve-month period"
1974. 28Paragraph 28
1975. Meaning of “interest in shares"
1976. 29Paragraph 29
1977. Meaning of “asset related to shares"
1978. 30Paragraph 30
1979. Meaning of “qualifying institutional investor”
1980. 30AParagraph 30A
1981. Index of defined expressions
1982. 31Paragraph 31
1983. Part 5: Consequential provisions
1984. Meaning of “chargeable shares" or “chargeable asset"
1985. 32Paragraph 32
1986. Negligible value claims
1987. 33Paragraph 33
1988. Reorganisations etc: deemed accrual of chargeable gain or allowable loss held over on earlier transaction
1989. 34Paragraph 34
1990. Recovery of charge postponed on transfer of assets to non-resident company
1991. 35Paragraph 35 Repealed
1992. Appropriation of asset to trading stock
1993. 36Paragraph 36
1994. Recovery of held-over gain on claim for gifts relief
1995. 37Paragraph 37
1996. Degrouping: time when deemed sale and reacquisition treated as taking place
1997. 38Paragraph 38
1998. Effect of FOREX matching regulations
1999. 39Paragraph 39
2000. Schedule 7AD: Gains of insurance company from venture capital investment partnership
2001. Introduction
2002. 1Paragraph 1
2003. Meaning of “venture capital investment partnership”
2004. 2Paragraph 2
2005. Interest in relevant assets of partnership treated as single asset
2006. 3Paragraph 3
2007. The cost of the single asset
2008. 4Paragraph 4
2009. Deemed disposal of single asset in case of distribution
2010. 5Paragraph 5
2011. Apportionment in case of part disposal
2012. 6Paragraph 6
2013. Disposal of partnership asset giving rise to offshore income gain
2014. 7Paragraph 7
2015. Exclusion of negligible value claim
2016. 8Paragraph 8
2017. Investment in other venture capital investment partnerships
2018. 9Paragraph 9
2019. Interpretation
2020. 10Paragraph 10
2021. General commencement and transitional provisions
2022. 11Paragraph 11
2023. Election to remain outside Schedule
2024. 12Paragraph 12
2025. How and when election to be made
2026. 13Paragraph 13
2027. Schedule 7B: Modification of Act in relation to overseas life insurance companies Repealed
2028. 1Paragraph 1 Repealed
2029. 2Paragraph 2 Repealed
2030. 3Paragraph 3 Repealed
2031. 4Paragraph 4 Repealed
2032. 5Paragraph 5 Repealed
2033. 6Paragraph 6 Repealed
2034. 6AParagraph 6A Repealed
2035. 6BParagraph 6B Repealed
2036. 7Paragraph 7 Repealed
2037. 7AParagraph 7A Repealed
2038. 8Paragraph 8 Repealed
2039. 9Paragraph 9 Repealed
2040. 9AParagraph 9A Repealed
2041. 10Paragraph 10 Repealed
2042. 11Paragraph 11 Repealed
2043. 12Paragraph 12 Repealed
2044. 13Paragraph 13 Repealed
2045. 14Paragraph 14 Repealed
2046. 15Paragraph 15 Repealed
2047. 16Paragraph 16 Repealed
2048. Schedule 7C: Relief for transfers to Schedule 2 share plans
2049. Introductory
2050. 1Paragraph 1
2051. Conditions relating to the disposal
2052. 2Paragraph 2
2053. Reinvestment of disposal proceeds
2054. 3Paragraph 3
2055. Provision supplementary to paragraphs 2 and 3
2056. 4Paragraph 4
2057. The relief
2058. 5Paragraph 5
2059. Dwelling-houses: special provision
2060. 6Paragraph 6
2061. Shares: special provision
2062. 7Paragraph 7
2063. Meaning of “chargeable asset”
2064. 8Paragraph 8
2065. Schedule 7D: ... Share schemes and share incentives
2066. Part 1: Schedule 2 share incentive plans
2067. Introductory
2068. 1Paragraph 1
2069. Gains accruing to trustees
2070. 2Paragraph 2
2071. Participant absolutely entitled as against trustees
2072. 3Paragraph 3
2073. Different classes of shares
2074. 4Paragraph 4
2075. No chargeable gain on shares ceasing to be subject to the plan
2076. 5Paragraph 5
2077. Deemed disposal by trustees on disposal of beneficial interest
2078. 6Paragraph 6
2079. Treatment of forfeited shares
2080. 7Paragraph 7
2081. Disposal of rights under rights issue
2082. 8Paragraph 8
2083. Part 2: Schedule 3 SAYE option schemes
2084. Introductory
2085. 9Paragraph 9
2086. Market value rule not to apply
2087. 10Paragraph 10
2088. Part 3: Schedule 4 CSOP schemes
2089. Introductory
2090. 11Paragraph 11
2091. Relief where income tax charged in respect of grant of option
2092. 12Paragraph 12
2093. Market value rule not to apply
2094. 13Paragraph 13
2095. Part 4: Enterprise management incentives
2096. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2097. Paragraph Repealed
2098. Schedule 8: Leases
2099. Leases of land as wasting assets: curved line restriction of allowable expenditure
2100. 1Paragraph 1
2101. Premiums for leases
2102. 2Paragraph 2
2103. 3Paragraph 3
2104. Subleases out of short leases
2105. 4Paragraph 4
2106. Exclusion of premiums taxed as receipts of a property business etc.
2107. 5Paragraph 5
2108. 6Paragraph 6
2109. 7Paragraph 7
2110. 7AParagraph 7A
2111. Duration of leases
2112. 8Paragraph 8
2113. Leases of property other than land
2114. 9Paragraph 9
2115. Interpretation
2116. 10Paragraph 10
2117. Schedule 8A
2118. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2119. 1Paragraph 1
2120. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2121. 2Paragraph 2 Repealed
2122. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2123. 3Paragraph 3 Repealed
2124. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2125. 4Paragraph 4 Repealed
2126. Schedule 8B: Hold-over relief for gains re-invested in social enterprises
2127. When does the Schedule apply?
2128. 1Paragraph 1
2129. 2Paragraph 2
2130. Interpretation of Schedule
2131. 3Paragraph 3
2132. Claim to hold gain over while invested in a social enterprise
2133. 4Paragraph 4
2134. Held-over gain treated as accruing on disposal etc of the qualifying investment
2135. 5Paragraph 5
2136. Chargeable events
2137. 6Paragraph 6
2138. Person to whom held-over gain is treated as accruing
2139. 7Paragraph 7
2140. Claims: procedure
2141. 8Paragraph 8
2142. Schedule 9: Gilt-edged securities
2143. Part I: General
2144. 1Paragraph 1
2145. 1AParagraph 1A
2146. 2Paragraph 2
2147. 3Paragraph 3
2148. IIExisting gilt-edged securities
2149. Schedule 10: Consequential amendments
2150. Post Office Act 1969 c. 48
2151. 1Paragraph 1 Repealed
2152. Taxes Management Act 1970 c. 9
2153. 2Paragraph 2
2154. Finance Act 1973 c. 51
2155. 3Paragraph 3 Repealed
2156. British Aerospace Act 1980 c. 26
2157. 4Paragraph 4
2158. British Telecommunications Act 1981 c. 38
2159. 5Paragraph 5
2160. Value Added Tax Act 1983 c. 55
2161. 6Paragraph 6 Repealed
2162. Telecommunications Act 1984 c. 12
2163. 7Paragraph 7 Repealed
2164. Inheritance Tax Act 1984 c. 51
2165. 8Paragraph 8
2166. Finance Act 1985 c. 54
2167. 9Paragraph 9
2168. Trustee Savings Bank Act 1985 c. 58
2169. 10Paragraph 10
2170. Transport Act 1985 c. 67
2171. 11Paragraph 11
2172. Airports Act 1986 c. 31
2173. 12Paragraph 12
2174. Gas Act 1986 c. 44
2175. 13Paragraph 13
2176. Income and Corporation Taxes Act 1988 c. 1
2177. 14Paragraph 14
2178. British Steel Act 1988 c. 35
2179. 15Paragraph 15
2180. Finance Act 1988 c. 39
2181. 16Paragraph 16
2182. Health and Medicines Act 1988 c. 49
2183. 17Paragraph 17
2184. Water Act 1989 c. 15
2185. 18Paragraph 18
2186. Finance Act 1989 c. 26
2187. 19Paragraph 19
2188. Electricity Act 1989 c. 29
2189. 20Paragraph 20
2190. Capital Allowances Act 1990 c. 1
2191. 21Paragraph 21 Repealed
2192. Finance Act 1990 c. 29
2193. 22Paragraph 22
2194. Finance Act 1991 c. 31.
2195. 23Paragraph 23
2196. Ports Act 1991 c. 52
2197. 24Paragraph 24
2198. British Technology Group Act 1991 c. 66
2199. 25Paragraph 25
2200. Schedule 11: Transitional provisions and savings
2201. Part I: Valuation
2202. Preliminary
2203. 1Paragraph 1
2204. Gifts and transactions between connected persons before 20th March 1985
2205. 2Paragraph 2
2206. Valuation of assets before 6th July 1973
2207. 3Paragraph 3
2208. 4Paragraph 4
2209. 5Paragraph 5
2210. Valuation of assets on 6th April 1965
2211. 6Paragraph 6
2212. References to the London Stock Exchange before 25th March 1973and Exchange Control restrictions before 13th December 1979
2213. 7Paragraph 7
2214. Depreciated valuations referable to deaths before 31st March 1973
2215. 8Paragraph 8
2216. Estate duty
2217. 9Paragraph 9
2218. Part II: Other transitory provisions
2219. Value-shifting
2220. 10Paragraph 10
2221. Assets acquired on disposal chargeable under Case VII of Schedule D
2222. 11Paragraph 11
2223. Unrelieved Case VII losses
2224. 12Paragraph 12
2225. Devaluation of sterling: securities acquired with borrowed foreign currency
2226. 13Paragraph 13
2227. Devaluation of sterling: foreign insurance funds
2228. 14Paragraph 14
2229. Gilt-edged securities past redemption date
2230. 15Paragraph 15
2231. Qualifying corporate bonds, company reorganisations, share conversions etc.
2232. 16Paragraph 16
2233. Land: allowance for betterment levy
2234. 17Paragraph 17
2235. Non-resident trusts
2236. 18Paragraph 18
2237. Private residences
2238. 19Paragraph 19
2239. Works of art etc.
2240. 20Paragraph 20
2241. Disposal before acquisition
2242. 21Paragraph 21
2243. Estate duty
2244. 22Paragraph 22
2245. Validity of subordinate legislation
2246. 23Paragraph 23
2247. Amendments in other Acts
2248. 24Paragraph 24
2249. Saving for Part III of this Schedule
2250. 25Paragraph 25
2251. Part III: Assets acquired before commencement
2252. 26Paragraph 26
2253. 27Paragraph 27
2254. Part IV: Other general savings
2255. 28Paragraph 28
2256. 29Paragraph 29
2257. Schedule 12Repeals
2258. Schedule Schedule