The Finance Act 2010, Schedule 6, Part 2 (Commencement) Order 2012

Paragraph 13 of Schedule 6 (amendment of TCGA 1992)

9.—(1) The repeals mentioned in paragraph (2) come into force—

(a) for corporation tax purposes, for accounting periods(1) beginning on or after 1st April 2012, and

(b) for capital gains tax purposes, for the tax year 2012-13(2) and subsequent tax years.

(2) The repeals referred to in paragraph (1) are—

(a) the repeal of section 256(6) and (8) of TCGA 1992(3) (charities) made by paragraph 13(1) and (3) of Schedule 6,

(b) the repeal of section 256C(6) of TCGA 1992(4) (attributing gains to the non-exempt amount: charitable companies) made by paragraph 13(1) and (4) of Schedule 6, and

(c) the repeal of section 256D(7) of TCGA 1992(5) (how gains are attributed to the non-exempt amount: charitable companies) made by paragraph 13(1) and (5) of Schedule 6.

(1)

See section 1119 of the Corporation Tax Act 2010 (c. 4) for the meaning of “accounting period” for the purposes of the Corporation Tax Acts. Schedule 1 to the Interpretation Act 1978 (c. 30) defines “the Corporation Tax Acts”.

(2)

See section 288(1ZA) of the Taxation of Chargeable Gains Act 1992 (c. 12) for the meaning of the expressions “tax year” and “the tax year 2012-13” for the purposes of enactments relating to capital gains tax. Section 288(1ZA) was inserted by paragraph 101(3) of Schedule 2 to the Finance Act 2008 (c. 9).

(3)

Subsection (6) was inserted by article 3 of S.I. 2009/23; subsection (8) was inserted by paragraph 254(5) of Schedule 1 to the Corporation Tax Act 2010 (c. 4).

(4)

Section 256C was inserted by paragraph 257 of Schedule 1 to the Corporation Tax Act 2010 (c. 4).

(5)

Section 256D was inserted by paragraph 257 of Schedule 1 to the Corporation Tax Act 2010 (c. 4).