There are currently no known outstanding effects for the Finance Act 2019, Cross Heading: Repayments of amounts previously paid on account of capital gains tax.
8(1)This paragraph applies if—U.K.
(a)a person makes and delivers a return under this Schedule in respect of a disposal,
(b)the person has previously paid amounts on account of the person's liability to capital gains tax for the tax year concerned, and
(c)the amounts exceed the amount of capital gains tax notionally chargeable on the person as at the filing date for the return.
(2)The excess is repayable to the person on the filing date for the return.
(3)In determining the total amount of payments that have, at any time, been made on account of a person's liability to capital gains tax for a tax year, account must be taken of amounts already repaid under this paragraph.
9(1)If—U.K.
(a)a person makes a disposal on which an allowable loss accrues, and
(b)had a gain accrued instead, the disposal would have been one to which this Schedule applies as a result of paragraph 1(1)(b),
the person may make and deliver a return under this Schedule in respect of the disposal for the purpose of securing the application of paragraph 8.
(2)Accordingly, the disposal is treated for that purpose as if it were a disposal to which this Schedule applies.
(3)This paragraph does not apply in respect of a disposal if the filing date for the return which the person would otherwise be entitled to make and deliver falls on or after the date mentioned in paragraph 5(1)(a) or (b).
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