312(1)Amend section 776 (transactions in land: taxation of capital gains) as follows.U.K.
(2)In subsection (3)(a) omit the words from “, and which constitutes” to “period in which the gain is realised”.
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)In subsection (6)—
(a)in paragraph (a) after “the profits under” insert “ Part 2 of ITTOIA 2005 or ”, F2...
F2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 1 para. 312(3) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F2Sch. 1 para. 312(4)(b) and word repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 645(2), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F3Sch. 1 para. 312(5) repealed (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1031, 1034, Sch. 3 Pt. 1 (with transitional provisions and savings in Sch. 2)