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.