Modifications etc. (not altering text)
C1Pt. II Chapter II (ss. 28-43) modified by Finance Act 1991 (c. 31, SIF 63:2), s. 102(3).
C2Pt. II Chapter II (ss. 28-43) applied (E.W.S.) (16.1.1992) by S.I. 1992/58, art. 9, Sch. 2 para. 8(1)
(1)The amount of the gains accruing on the disposal of assets shall be computed in accordance with this Chapter, and subject to the other provisions of this Act [F1and sections 86 and 87 of the Finance Act 1982].
(2)Every gain shall, except as otherwise expressly provided, be a chargeable gain.
(3)Schedule 5 to this Act (which restricts the amount of chargeable gains accruing on the disposal of assets owned on 6th April 1965) shall have effect.
Textual Amendments
F1Words inserted by Finance Act 1982 (c. 39, SIF 63:2), s. 86(4) in respect of disposals on or after 6 April 1982, or 1 April 1982 (companies)
Modifications etc. (not altering text)
C3See— Development Land Tax Act 1976 (c. 24), s. 34 and Sch. 6 Pt. I relating to deduction of development land tax disposal (which Act was repealed by Finance Act 1985 (c. 54, SIF 63:2), ss. 93, 98(6) and Sch. 27 Pt. X); Income and Corporation Taxes Act 1988 (c. 1, SIF, 63:1), Sch. 26 para. 3(2); Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 5 and Sch. 2 paras. 3(1), 5