Part II Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER III Capital Gains
Exemptions
123 Increase of chattel exemption.
1
In the following enactments, namely—
F1a
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
section 12(2)(b) of the M1Taxes Management Act 1970(information about assets acquired), and
c
section 25(7) of that Act (information about assets disposed of),
for “£3,000”, in each place where it occurs, there shall besubstituted “£6,000”.
2
This section applies to disposals on or after 6th April 1989 andaccordingly, in relation to subsection (1)(b) above, to assets acquired on orafter that date.