SCHEDULES
F2SCHEDULE 6DEVELOPMENT LOSSES
Private residences
7
Where a claim under the principal section is made in respect of a disposal by an individual of an interest in land to which the principal section applies, being an interest such that [section 102(2) of the Capital Gains Tax Act 1979 F1] (private residences) would, apart from this paragraph, apply to the loss accruing to him on the disposal, paragraph 21(a) to (c) of Schedule 3 to this Act shall have effect in relation to the disposal subject to the following modifications, that is to say—
a
any reference to a chargeable gain shall be read as a reference to an allowable loss;
b
any reference to a development gain shall be read as a reference to a development loss; and
c
any other reference to a gain shall be read as a reference to a loss.
Sch. 6 repealed by Finance Act 1985 (c. 54, SIF 63:1), s. 98(6)and Sch.27 Part Xin relation to disposals of interests in land taking place on or after 19MarchFinance Act 1985 (c. 54, SIF 63:1),but without affecting the construction of 1979 (C) Sch. 5 para. 9(5).