- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
Section 39.
1In this Schedule " the principal section " means section 39 of this Act.
2Paragraph 14(5) of Schedule 6 to the [1965 c. 25.] Finance Act 1965 (consideration to be brought into account without discount etc.) shall apply in the computation of the net proceeds of a disposal for the purposes of the principal section as it applies in the computation under that Schedule.
3Paragraph 14(2)(a) of Schedule 7 to the Finance Act 1965 (consideration for option) shall apply for the computation of the net proceeds of a disposal for the purposes of the principal section as it applies for the computation of chargeable gains.
4(1)For the purposes of the principal section the consideration for a disposal shall be disregarded if, under any provision other than section 38(2) of this Act—
(a)it falls to be excluded from the computation of a gain, arising on the disposal; or
(b)a gain accruing on the disposal is not a chargeable gain.
(2)If by virtue of section 29(3) of the [1965 c. 25.] Finance Act 1965 (private residences) a fraction of the gain accruing to an individual on a disposal is not a chargeable gain, that fraction of the net proceeds of the disposal shall be disregarded for the purposes of the principal section.
5For the purposes of the principal section the consideration for a disposal shall be disregarded if the disposal is one as respects which any of the following provisions of the Taxes Act applies, that is to say—
(a)section 267 (company reconstruction or amalgamation: transfer of assets);
(b)section 273 (transfers within a group);
(c)section 342 (disposals of land between the Housing Corporation and housing societies).
6In section 119(2)(a) of the [1972 c. 41.] Finance Act 1972 (gifts to charities etc.) after the words " 1971 " there shall be inserted the words " or section 39 of the Finance Act 1974 ".
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