Act repealed (6.3.1992 with effect as mentioned in s. 289(1)(2) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with s. 201(3), Sch. 11 paras. 20, 22, 26(2), 27 and with saving in Sch. 11 para. 24(2)) and subject to an amendment (prosp.) by Museum and Galleries Act 1992 (c. 44), s. 11(2), Sch. 8 Pt. I para. 1(1)(2)(7), and amendments by: Disability Living Allowance and Disability Working Allowance Act 1991 (c. 21), s. 4(2), Sch. 2 para. 9(1)(2) (in force 6.4.1992 by S.I. 1991/2617, art. 2(f)); S.I. 1991/2874, art. 2 (in force 6.4.1992 by S.R. 1992/94, art. 2); Social Security (Consequential Provisions) Act 1992 (c. 6), s. 4, Sch. 2 para. 52(a)(b) (in force 1.7.1992 by s. 7(2) of the amending Act); Social Security (Consequential Provisions) (Northern Ireland) Act 1992 (c. 9), s. 4, Sch. 2 para. 20(a)(b) (in force 1.7.1992 by s. 7(2) of the amending Act); Finance (No. 2) Act 1992 (c. 48), ss. 35(2), 47, 48, 56, 77, Sch. 9 para. 20(1)(inserting ss. 143A and 143B), Sch. 17 paras. 3, 6(2)(5), 7, (the amendments coming into force 16.7.1992 except for the amendment by s. 56, Sch. 9 para. 20(1) which comes into force on 19.2.1993 by S.I. 1993/236, art. 2); and amendments (retrospective to 1.1.1992) by ss. 35(2), 47, 48 of the same 1992 Act, and amendments (27.7.1993 with effect as mentioned in ss. 84(3), 86(4), 88(4), 105(4) of the amending Act) by 1993 c. 34, ss. 84(3), 86(4), 88(4)(a)(b), 105(3)(4)

Sch. 3 applied (E.W.S.) (16.01.1992) by S.I. 1992/58, art.26.

See Development Land Tax Act 1976 (c. 24), s. 34 and Sch. 6 para. 3(2) (which Act was repealed by Finance Act 1985 (c. 54, SIF 63:2), ss. 93, 98(6) and Sch. 27 Pt. X)

Sch. 3 para. 2(2) applied (with modifications) (E.W.S.) (16.1.1992) by S.I. 1992/58, art.26.

http://www.legislation.gov.uk/ukpga/1979/14/schedule/3/paragraph/2Capital Gains Tax Act 1979 (repealed 6.3.1992)An Act to consolidate Part III of the Finance Act 1965 with related provisions in that Act and subsequent Acts.1990-03-01texttext/xmlenStatute Law Database2011-05-271992-04-06 SCHEDULESSCHEDULE 3 Leases Premiums for leases21

Subject to this Schedule where the payment of a premium is required under a lease of land, or otherwise under the terms subject to which a lease of land is granted, there is a part disposal of the freehold or other asset out of which the lease is granted.

2

In applying section 35 of this Act to such a part disposal, the property which remains undisposed of includes a right to any rent or other payments, other than a premium, payable under the lease, and that right shall be valued as at the time of the part disposal.

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<p>
Act repealed (6.3.1992 with effect as mentioned in s. 289(1)(2) of the repealing Act) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12">Taxation of Chargeable Gains Act 1992 (c. 12)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/section/289">ss. 289</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/section/290">290</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/schedule/12">Sch.12</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/section/201/3">s. 201(3)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/schedule/11/paragraph/20">Sch. 11 paras. 20</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/schedule/11/paragraph/22">22</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/schedule/11/paragraph/26/2">26(2)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/schedule/11/paragraph/27">27</ref>
and with saving in
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/12/schedule/11/paragraph/24/2">Sch. 11 para. 24(2)</ref>
) and subject to an amendment (
<em>prosp.</em>
) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/44">Museum and Galleries Act 1992 (c. 44)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/44/section/11/2">s. 11(2)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/44/schedule/8/part/I/paragraph/1/1/2/7">Sch. 8 Pt. I para. 1(1)(2)(7)</ref>
, and amendments by:
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/21">Disability Living Allowance and Disability Working Allowance Act 1991 (c. 21)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/21/section/4/2">s. 4(2)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/21/schedule/2/paragraph/9/1/2">Sch. 2 para. 9(1)(2)</ref>
(in force 6.4.1992 by
<ref href="http://www.legislation.gov.uk/id/uksi/1991/2617">S.I. 1991/2617</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1991/2617/article/2/f">art. 2(f)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1991/2874">S.I. 1991/2874</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1991/2874/article/2">art. 2</ref>
(in force 6.4.1992 by
<ref href="http://www.legislation.gov.uk/id/nisr/1992/94">S.R. 1992/94</ref>
,
<ref href="http://www.legislation.gov.uk/id/nisr/1992/94/article/2">art. 2</ref>
);
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/6">Social Security (Consequential Provisions) Act 1992 (c. 6)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/6/section/4">s. 4</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/6/schedule/2/paragraph/52/a/b">Sch. 2 para. 52(a)(b)</ref>
(in force 1.7.1992 by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/9/section/7/2">s. 7(2)</ref>
of the amending Act);
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/9">Social Security (Consequential Provisions) (Northern Ireland) Act 1992 (c. 9)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/9/section/4">s. 4</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/9/schedule/2/paragraph/20/a/b">Sch. 2 para. 20(a)(b)</ref>
(in force 1.7.1992 by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/7/2">s. 7(2)</ref>
of the amending Act);
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48">Finance (No. 2) Act 1992 (c. 48)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/35/2">ss. 35(2)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/47">47</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/48">48</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/56">56</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/77">77</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/48/schedule/9/paragraph/20/1">Sch. 9 para. 20(1)</ref>
(inserting ss. 143A and 143B), Sch. 17 paras. 3, 6(2)(5), 7, (the amendments coming into force 16.7.1992 except for the amendment by s. 56, Sch. 9 para. 20(1) which comes into force on 19.2.1993 by
<ref href="http://www.legislation.gov.uk/id/uksi/1993/236">S.I. 1993/236</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/236/article/2">art. 2</ref>
); and amendments (retrospective to 1.1.1992) by ss. 35(2), 47, 48 of the same 1992 Act, and amendments (27.7.1993 with effect as mentioned in ss. 84(3), 86(4), 88(4), 105(4) of the amending Act) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1993/34">1993 c. 34</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1993/34/section/84/3">ss. 84(3)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1993/34/section/86/4">86(4)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1993/34/section/88/4/a/b">88(4)(a)(b)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1993/34/section/105/3/4">105(3)(4)</ref>
</p>
</note>
<note class="commentary C" eId="c1111139">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1979/14/schedule/3">Sch. 3</ref>
applied (E.W.S.) (16.01.1992) by
<ref href="http://www.legislation.gov.uk/id/uksi/1992/58">S.I. 1992/58</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1992/58/article/26">art.26</ref>
.
</p>
</note>
<note class="commentary C" eId="c1111140">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1976/24">See Development Land Tax Act 1976 (c. 24)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1976/24/section/34">s. 34</ref>
and Sch. 6 para. 3(2) (which Act was repealed by
<ref href="http://www.legislation.gov.uk/id/ukpga/1985/54">Finance Act 1985 (c. 54, SIF 63:2)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1985/54/section/93">ss. 93</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1985/54/section/98/6">98(6)</ref>
and Sch. 27 Pt. X)
</p>
</note>
<note class="commentary C" eId="c1111141">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1979/14/schedule/3/paragraph/2/2">Sch. 3 para. 2(2)</ref>
applied (with modifications) (E.W.S.) (16.1.1992) by
<ref href="http://www.legislation.gov.uk/id/uksi/1992/58">S.I. 1992/58</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1992/58/article/26">art.26</ref>
.
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SCHEDULE 3
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1
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<p>Subject to this Schedule where the payment of a premium is required under a lease of land, or otherwise under the terms subject to which a lease of land is granted, there is a part disposal of the freehold or other asset out of which the lease is granted.</p>
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2
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<p>In applying section 35 of this Act to such a part disposal, the property which remains undisposed of includes a right to any rent or other payments, other than a premium, payable under the lease, and that right shall be valued as at the time of the part disposal.</p>
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