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Taxation of Chargeable Gains Act 1992

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Changes over time for: Cross Heading: Gains to be brought into pool on subsequent transfer of value

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Version Superseded: 21/07/2008

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Point in time view as at 10/07/2003.

Changes to legislation:

Taxation of Chargeable Gains Act 1992, Cross Heading: Gains to be brought into pool on subsequent transfer of value is up to date with all changes known to be in force on or before 10 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1[F2Gains to be brought into pool on subsequent transfer of valueU.K.

Textual Amendments

F1Sch. 4C inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(4), Sch. 26 Pt. I

F2Sch. 4C paras. 7A, 7B and cross-headings inserted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 29 para. 3 (with s. 163(4)-(6))

7B(1)Where the trustees of a settlement who have made a transfer of value to which Schedule 4B applies make a further transfer of value to which that Schedule applies, the following provisions apply.U.K.

(2)If the further transfer is made in the same year of assessment as the original transfer, any Schedule 4B trust gains accruing by virtue of the further transfer are brought into the settlement’s Schedule 4C pool at the end of the year.

(3)If the further transfer is made in a later year of assessment at the beginning of which there are outstanding gains in the settlement’s Schedule 4C pool—

(a)any Schedule 4B trust gains accruing by virtue of the further transfer, and

(b)any outstanding section 87/89 gains of the settlement at the end of the later year of assessment,

are brought into the settlement’s Schedule 4C pool at the end of the later year.

  • Outstanding gains in the settlement’s Schedule 4C pool” means gains in that pool that have not been attributed to beneficiaries in accordance with this Schedule.

(4)If the further transfer is made in a later year of assessment at the beginning of which the settlement no longer has a Schedule 4C pool, the provisions of this Schedule apply in relation to the further transfer as they applied in relation to the original transfer.

(5)For the purposes of this paragraph a settlement is treated as continuing to have a Schedule 4C pool until the end of the last year of assessment in which there are any gains in the pool.]]

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