Capital Gains Tax Act 1979 (repealed 6.3.1992)

[F1 45 Tax on married woman’s gains. U.K.

(1) Subject to this section, the amount of capital gains tax on chargeable gains accruing to a married woman in—

(a) a year of assessment, or

(b) any part of a year of assessment, being a part beginning with 6th April,

during which she is a married woman living with her husband shall be assessed and charged on the husband and not otherwise but this subsection shall not affect the amount of capital gains tax chargeable on a man apart from this subsection nor result in the additional amount of capital gains tax charged on a man by virtue of this subsection being different from the amount which would otherwise have remained chargeable on the married woman.

(2) Subsection (1) above shall not apply in relation to a husband and wife in any year of assessment if, before 6th July in the year next following that year of assessment, an application is made by either the husband or wife, and such an application duly made shall have effect not only as respects the year of assessment for which it is made but also for any subsequent year of assessment:

Provided that the applicant may give, for any subsequent year of assessment, a notice to withdraw that application and where such a notice is given the application shall not have effect with respect to the year for which the notice is given or any subsequent year.

A notice of withdrawal under this proviso shall not be valid unless it is given within the period for making, for the year for which the notice is given, an application similar to that to which the notice relates.

(3) Returns under section 8 or 42(5) of the M1 Taxes Management Act 1970 as respects chargeable gains accruing to a married woman may be required either from her or, if her husband is liable under subsection (1) above, from him.

(4) Section [F2 285] (collection from wife of tax assessed on husband attributable to her income) and section [F2 286] (right of husband to disclaim liability for tax on deceased wife’s income) of [F3 the Taxes Act 1988] shall apply with any necessary modifications in relation to capital gains tax as they apply in relation to income tax.

(5) An application or notice of withdrawal under this section shall be in such form and made in such manner as may be prescribed by the Board.]

Textual Amendments

F1 S. 45 repealed by Finance Act 1988 (c. 39, SIF 63;1, 2), s. 148 and Sch. 14 Pt. VIII from 1990–91

F2 Figure substituted by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 paras. 15 and 32

F3 Words substituted by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 paras. 15 and 32

Modifications etc. (not altering text)

C1 See Finance Act 1988 (c. 39, SIF 63;1, 2), s. 99

C2 S. 45(2) modified by S.I. 1991/851, reg. 9, Sch.2.

C3 S. 45(2) modified (28.3.1992) by S.I. 1992/511, reg. 9, Sch.2

Marginal Citations

M1 1970 c. 9.