Textual Amendments
F1 See also—Finance Act 1973 s.38andSch.15 para.2—particulars which may be required from holder of licence under thePetroleum (Production) Act 1934 (c.36).Finance Act 1974 s.47andSch.10 para.3—duty to make returns in relation to tax on first letting or occupation of building after material development, andpara.4—particulars which may be required for purposes of such tax or tax on development gains.Finance Act 1988 (c. 39, SIF 63:1,2) s. 127—production of computer records.
(1)A person holding shares or securities in a company which is not resident or ordinarily resident in the United Kingdom, or who is interested in settled property under a settlement the trustees of which are not resident or ordinarily resident in the United Kingdom, may be required by a notice by the Board to give such particulars as the Board may consider are required to determine whether the company or trust falls within [section 15 F2] (non-resident companies) or [section 17 F2] (non-resident trusts) of the [Capital Gains Tax Act 1979 F2], and whether any chargeable gains F3 have accrued to that company, or to the trustees of that settlement, in respect of which the person to whom the notice is given is liable to capital gains tax F3 under the said [section 15 F2] or the said [section 17 F2].
(2)In this section “settled property” has the meaning given by[section 51 of the Capital Gains Tax Act 1979 F4] and the “company” and “” shall be construed in accordance with[sections 64, 93 and 155(1) of that Act F4].
Textual Amendments
F2Capital Gains Tax Act 1979 (c. 14, SIF 63:2) s.157(2)andSch.7 para.1(3)for1979—80et seq. SeeFinance Act 1974 s.47andSch.10 para.5(2)—includesCapital Gains Tax Act 1979 ss.15and17as they have effect in relation to development gains by virtue ofFinance Act 1974 Sch.8 paras.2and3.
F3 SeeFinance Act 1974 s.47andSch.10 para.5(2)—includes development gains and tax in respect thereof.
F4Capital Gains Tax Act 1979 (c. 14, SIF 63:2) s.157(2)andSch.7 para. 8for1979—80et seq.