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Version Superseded: 06/03/1992
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14(1)This paragraph applies where—
(a)as a result of a claim (in this paragraph referred to as “the earlier claim"), payment of an amount of capital gains tax (in this paragraph referred to as “the original tax"), determined in accordance with paragraph 6 or paragraph 7 above, is or was postponed by virtue of this Schedule; and
(b)after the making of the earlier claim, another claim (in this paragraph referred to as “the later claim") is made in relation to an attributed gain to which the earlier claim did not relate; and
(c)the settlement to which the earlier and the later claims relate is the same.
(2)If the year of assessment which is the relevant year of assessment in relation to any attributed gain to which the later claim relates is earlier than the earliest year of assessment which is the relevant year of assessment in relation to any attributed gain to which the earlier claim related, then,—
(a)the earlier claim and the postponement resulting from it shall be set aside; and
(b)the provisions of this Schedule shall have effect as if (notwithstanding paragraph 2(2) above) the attributed gains to which the later claim relates included the attributed gains to which the earlier claim related.
(3)Where sub-paragraph (2) above does not apply and, at the time the later claim is made, payment of any of the original tax remains postponed by virtue of this Schedule, then, subject to sub-paragraph (4) below,—
(a)paragraphs 4 to 10 above shall not apply in relation to the later claim; and
(b)payment of the tax referable to the attributed gain or gains to which the later claim relates shall be postponed by virtue of this Schedule; and
(c)paragraphs 11 and 12 above shall apply as if the payment of that tax had been postponed as a result of the earlier claim and, accordingly, that tax shall be added to the original tax.
(4)If, in a case where sub-paragraph (3) above applies, the relevant year of assessment in relation to an attributed gain (in this sub-paragraph referred to as “the later gain") to which the later claim relates is the same as the relevant year of assessment in relation to an attributed gain to which the earlier claim related,—
(a)paragraph 3 above shall not apply in relation to the later gain; and
(b)in relation to the later gain, the references in sub-paragraph (3) above to the tax referable to the gain shall be construed as references to the capital gains tax assessed by reason of the gain.
(5)Where sub-paragraph (2) above does not apply and, at the time the later claim is made, there is no longer any postponement of the payment of any of the original tax, then, in the application of the provisions of this Schedule in relation to the later claim, paragraph 4(2) above shall not apply and “the base year" for the purposes of paragraphs 4 and 5 above shall be that year of assessment which was the base year in relation to the earlier claim.
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