Finance Act 1989

Postponed charges etc.: pre-1st April 1982 events

1 (1) None of the enactments specified in sub-paragraph (2) below shall apply in consequence of an event occurring on or after 6th April 1988 if its application would be directly attributable to the disposal of an asset on or before 31st March 1982.

(2) The enactments referred to in sub-paragraph (1) above are—

(a) section 268A(4) of the Taxes Act 1970 (postponement of charge where securities acquired in exchange for business acquired by non-resident company);

(b) section 84 of the Capital Gains Tax Act 1979 (postponement of charge or loss where gilts acquired on compulsory acquisition of shares);

(c) section 111B(3) of that Act (postponement of charge where depreciating asset acquired on compulsory acquisition of land); and

(d) section 117(2) of that Act (postponement of charge where depreciating asset acquired as replacement for business asset).

2 Paragraph 3(1) of Schedule 9 to the [1988 c. 39.] Finance Act 1988 (halving of charges deferred from before 6th April 1988) shall have effect, and shall be deemed always to have had effect, with the insertion of the words “and to paragraph 1 of Schedule 15 to the Finance Act 1989” after the words “sub-paragraph (3) below”.