SCHEDULES
SCHEDULE 7 Consequential Amendments
Taxes Management Act 1970 (c. 9)
1
1
The Taxes Management Act 1970 shall be amended as follows.
C12
In section 12(2) for paragraph (a) substitute—
a
any assets exempted by the following provisions of the Capital Gains Tax Act 1979, namely—
i
section 19(4) (rights to winnings from pool betting, lotteries or games with prizes),
ii
section 71 (government non-marketable securities),
iii
section 130, 131 or 133 (passenger vehicles, decorations for valour or gallant conduct and foreign currency for personal expenditure)
3
In section 28(1) for “section 41”
(in both places) substitute “
section 15
”
, for “section 42”
(in both places) substitute “
section 17
”
, and for “Finance Act 1965” substitute “
Capital Gains Tax Act 1979
”
.