Finance Act 1978 (c. 42)

PART III U.K. INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX

CHAPTER II U.K. CAPITAL GAINS

45 Chattel exemption. U.K.

(1)-(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

(5) In sections 12(2)(b) and 25(7) of the Taxes Management Act 1970 (information about chargeable gains) for “£1,000” there shall be substituted “£2,000”.

(6) This section applies for the year 1978-79 and subsequent years of assessment; . . . F2

Textual Amendments

F1 S. 45(1)–(4) repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 158, Sch. 8

F2 Words repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s.158, Sch.8