Taxation of Chargeable Gains Act 1992

Changes to legislation:

Taxation of Chargeable Gains Act 1992, Paragraph 14 is up to date with all changes known to be in force on or before 25 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

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Changes and effects yet to be applied to Schedule 10 Paragraph 14:

Sch. 10 para. 14(43)-(45) omitted by 2008 c. 9 s. 41(7)(c)
Sch. 10 para. 14(47)-(49) omitted by 2008 c. 9 s. 41(7)(c)
Sch. 10 para. 14(63) omitted by 2008 c. 9 s. 41(7)(c)

Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Act applied by 1997 c. 16 Sch. 12 para. 12(7) 13 14
Act applied by 2002 c. 23 Sch. 16 para. 48(1)(2)
Act construed as one with reg. 37 by S.I. 2006/575 reg. 37(2)
Act construed as one with reg. 38 by S.I. 2006/575 reg. 38(3)

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

s. 4(10)(11) inserted by 2016 c. 11 s. 15(4)
s. 4(10) words inserted by 2016 c. 24 s. 83(11)
s. 35(3)(d)(xviii) added by 2008 c. 17 Sch. 7 para. 9
s. 35(3)(d)(xviii) inserted by 2008 c. 18 Sch. 13 para. 46
s. 35(3)(d)(xviii) repealed by S.I. 2008/3002 Sch. 1 para. 42 Sch. 3 (This amendment comes into force on the day 2008 c. 4, s. 5 comes into force, see art. 1(2). That provision was brought into force on 1.12.2008 by S.I. 2008/3068, art. 2(1)(b))
s. 104(4)(b)(i) words substituted by S.I. 1989/469, reg. 27(2) (as amended) by S.I. 1997/1716 reg. 13(1)(b)
s. 107(11) words substituted by S.I. 1989/469, reg. 27(2A) (as amended) by S.I. 1997/1716 reg. 13(2)(b)
s. 169S(4A) inserted by 2015 c. 11 s. 43(2)
s. 587B inserted by 2000 c. 17 s. 43(1)
Sch. 5C para. 3(1) modified by S.I. 2004/2199 reg. 7(1)
Sch. 5C para. 3(6) modified by S.I. 2004/2199 reg. 7(2)
Sch. 5C para. 5(1) modified by S.I. 2004/2199 reg. 7(3)
Sch. 5C para. 3 words inserted by S.I. 2005/3229 reg. 128
Sch. 5C para. 5 words inserted by S.I. 2005/3229 reg. 128
Sch. 5C para. 6 words inserted by S.I. 2005/3229 reg. 128
Sch. 5C para. 3(1)(f) words substituted by 2007 c. 3 Sch. 1 para. 347

14(1)The Income and Corporation Taxes Act 1988 shall have effect subject to the following amendmentsU.K.

(2)In section 11(2) for paragraph (b) there shall be substituted—

“(b)such chargeable gains as are, by virtue of section 10(3) of the 1992 Act, to be, or be included in, the company's chargeable profits,”

(3)In section 56(5) for “82 of the 1979 Act” there shall be substituted “ 132 of the 1992 Act ”.

(4)In section 119(1) after “122” there shall be inserted “ and section 201 of the 1992 Act ”.

F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(12). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(13)In section 187(2) for “1979 Act” (in the definition of “market value” ) and “77(1)(b) of the 1979 Act” (in the definition of “new holding”) there shall be substituted respectively “ 1992 Act ”and “ 126(1)(b) of the 1992 Act ”.

F6(14). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(15). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8(16). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(17)In sections 299 and 305 for “77(2)(a) of the 1979 Act” and “78” there shall be substituted respectively “ 126(2)(a) of the 1992 Act ”and “ 127 ”.

(18)In section 312 for “86(1) of the 1979 Act” and “150 of the 1979 Act” there shall be substituted respectively “ 136(1) of the 1992 Act ”and “ 272 of the 1992 Act ”.

F9(19). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F10(20). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F11(21). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(22). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(23). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(24). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F13(25). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(26)In section 450(6) for “31 or 33 of the 1979” there shall be substituted “ 37 or 39 of the 1992 ”.

F14(27). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F14(28). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F15(29). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(30)In subsection (1) of section 502 in the definition of “ring fence profits” for “same meaning as in section 79(5) of the Finance Act 1984” there shall be substituted “ meaning given by subsection (1A) below ”and at the end of that subsection there shall be inserted—

“(1A)Where in accordance with section 197(3) of the 1992 Act a person has an aggregate gain for any chargeable period, that gain and his ring fence income (if any) for that period together constitute his ring fence profits for the purposes of this Chapter.”

(31)In section 505(3), (5)(b) and (6) for “145 of the 1979 Act” there shall be substituted “ 256 of the 1992 Act ”.

F16(32). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(33)In section 574(1) for “1979” there shall be substituted “ 1992 ”.

(34)In section 575—

(a)in subsection (1)(c) for “22(2) of the 1979 Act” there shall be substituted “ 24(2) of the 1992 Act ”;

(b)in subsection (2) for “78 of the 1979 Act” , in both places, there shall be substituted “ 127 of the 1992 Act ”; and

(c)in subsection (3) for “85 or 86 of the 1979 Act” and “87” there shall be substituted “ 135 or 136 of the 1992 Act ”and “ 137 ”.

F17(35). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F17(36). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F17(37). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F17(38). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F18(39). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F19(40). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F20(41). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F21(42). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(43). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(44). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(45). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F23(46). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(47). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(48). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(49). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F24(50). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F25(51). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F26(52). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(53)In section 831—

(a)at the end of subsection (3) there shall be inserted— “the 1992 Act” means the Taxation of Chargeable Gains Act 1992. ”; and

(b)in subsection (5) for “1979” there shall be substituted “ 1992 ”.

F27(54). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F28(55). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(56)In section 843(2) for “10 of the 1979 Act” there shall be substituted “ 277 of the 1990 Act ”.

F29(57). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(58)In paragraph 5(7) of Schedule 10 for “1979” there shall be substituted “ 1992 ”.

(59)In paragraph 12(2) of Schedule 20 for “145 of the 1979” there shall be substituted “ 256 of the 1992 ”.

(60)In paragraph 7 of Schedule 22 for “149B(1)(g) of the 1979” there shall be substituted “ 271(1)(g) of the 1992 ”.

F30(61). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(62)In paragraph 3 of Schedule 26 for “II of Part II of the 1979” there shall be substituted “ III of Part II of the 1992 ”.

F31(63). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 10 para. 14(5) repealed (with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)

F2Sch. 10 para. 14(6) repealed (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. V(3) (with Sch. 15)

F3Sch. 10 para. 14(7) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F4Sch. 10 para. 14(8) repealed (with effect in accordance with Sch. 10 para. 7(1) of the amending Act) by Finance Act 1997 (c. 16), Sch. 18 Pt. VI(10)

F5Sch. 10 para. 14(9)-(12) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)

F6Sch. 10 para. 14(14) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F7Sch. 10 para. 14(15) repealed (with effect in accordance with Sch. 3 of the amending Act) by Finance Act 1998 (c. 36), Sch. 27 Pt. III(2)

F8Sch. 10 para. 14(16) repealed (with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)

F9Sch. 10 para. 14(19) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F10Sch. 10 para. 14(20) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F11Sch. 10 para. 14(21) repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3 (with Sch. 36)

F12Sch. 10 para. 14(22)-(24) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(d)

F13Sch. 10 para. 14(25) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(9)

F14Sch. 10 para. 14(27)(28) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F15Sch. 10 para. 14(29) repealed (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. V(3) (with Sch. 15)

F16Sch. 10 para. 14(32) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F17Sch. 10 para. 14(35)-(38) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)

F18Sch. 10 para. 14(39) repealed (with effect in accordance with Sch. 10 para. 7(1) of the amending Act) by Finance Act 1997 (c. 16), Sch. 18 Pt. VI(10)

F19Sch. 10 para. 14(40) omitted (with effect in accordance with s. 66(8) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 66(4)(d)

F20Sch. 10 para. 14(41) omitted (with effect in accordance with s. 66(8) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 66(4)(d)

F21Sch. 10 para. 14(42) repealed (with effect in accordance with Sch. 40 Pt. II(10) Note 1 of the amending Act) by Finance Act 2000 (c. 17), Sch. 40 Pt. II(10)

F22Sch. 10 para. 14(43)-(49) repealed (with effect in accordance with art. 1(2)(3), Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), reg. 1(1), Sch. 2

F23Sch. 10 para. 14(46) repealed (with effect in accordance with s. 145(2) of the amending Act) by Finance Act 2004 (c. 12), Sch. 42 Pt. 2(18)

F24Sch. 10 para. 14(50) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)

F25Sch. 10 para. 14(51) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F26Sch. 10 para. 14(52) repealed (with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)

F27Sch. 10 para. 14(54) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F28Sch. 10 para. 14(55) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F29Sch. 10 para. 14(57) repealed (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. V(3) (with Sch. 15)

F30Sch. 10 para. 14(61) repealed (with effect in accordance with Sch. 10 para. 7(1) of the amending Act) by Finance Act 1997 (c. 16), Sch. 18 Pt. VI(10)

F31Sch. 10 para. 14(63) repealed (with effect in accordance with art. 1(2)(3), Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), reg. 1(1), Sch. 2

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