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Finance Act 2003

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Changes over time for: Paragraph 6

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Version Superseded: 21/07/2008

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Status:

Point in time view as at 10/07/2003.

Changes to legislation:

Finance Act 2003, Paragraph 6 is up to date with all changes known to be in force on or before 25 February 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

6(1)In paragraph 10(1) for “of the transferor settlement, or of any transferee settlement,” substitute “ of any relevant settlement ”.U.K.

(2)In paragraph 12—

(a)in sub-paragraph (1)(a) for “arising under Schedule 4B” substitute “ included in a settlement’s Schedule 4C pool ”,

(b)in sub-paragraph (2) for “the Schedule 4B trust gains” substitute “ the settlement’s Schedule 4C gains ”, and

(c)in sub-paragraph (3) for “the transferor or transferee settlements” substitute “ any relevant settlement ”.

(3)In paragraph 13(5)(a) for “that in which the transfer of value was made” substitute “ the year of the gain (determined in accordance with paragraph 8B(3)) ”.

(4)After paragraph 13 insert—

Effect of settlement ceasing to exist after transfer of valueU.K.

13AWhere a settlement ceases to exist after the trustees have made a transfer of value to which Schedule 4B applies, this Schedule has effect as if a year of assessment had ended immediately before the settlement ceased to exist..

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