Finance Act 1982

[F1 81 Increase of chattel exemption. U.K.

(1) In the following enactments, namely,—

(a) section 128 of the Capital Gains Tax Act 1979 (chattel exemption by reference to consideration of £2,000),

(b) section 12(2)(b) of the M1 Taxes Management Act 1970 (information about assets acquired), and

(c) section 25(7) of that Act (information about assets disposed of),

for “£2,000”, in each case where it occurs, there shall be substituted “ £3,000 ”.

(2) This section applies to disposals on or after 6th April 1982 and, accordingly, in relation to subsection (1)(b) above, to assets acquired on or after that date.]

Textual Amendments

F1 S. 81 repealed by Finance Act 1989 (c. 26), s. 187 and Sch. 17 Pt. VII in relation to disposals on or after 6 April 1989 (and s. 81(1)(b) repealed in relation to assets acquired on or after 6 April 1989)

Marginal Citations

M1 1970 c. 9.