Point in time view as at 01/04/2010.
Finance Act 2008, Paragraph 129 is up to date with all changes known to be in force on or before 01 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.
129(1)Section 85A (transfers of value: attribution of gains to beneficiaries and treatment of losses) is amended as follows.U.K.
(2)After subsection (2) insert—
“(2A)For the purposes of sections 87 to 89, no account is to be taken of any section 2(2) amount in a Schedule 4C pool (see paragraph 1 of Schedule 4C).”
(3)For subsection (3) substitute—
“(3)When calculating the section 2(2) amount for a settlement for a tax year (within the meaning of section 87), no account is to be taken of any chargeable gains or allowable losses accruing by virtue of Schedule 4B.
Nothing in this subsection affects any increase in a section 2(2) amount by virtue of paragraph 1(3A) or 7B(2)(b) of Schedule 4C.”
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