Point in time view as at 26/05/2015.
Taxation of Chargeable Gains Act 1992, Paragraph 4 is up to date with all changes known to be in force on or before 07 March 2025. 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.
4(1)Subject to sub-paragraphs (3) to (5) below, this Schedule applies where—U.K.
(a)a gain is treated as accruing by virtue of any of the enactments specified in sub-paragraph (2) below, and
(b)that gain is attributable (whether directly or indirectly and whether in whole or in part) to the disposal before 6th April 1988 of an asset acquired before 31st March 1982 by the person making that disposal.
(2)The enactments referred to in sub-paragraph (1) above are sections 116(10) and (11), 134, 140, 154(2), F1... F2... and 248(3).
F3(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)Where a gain is treated as accruing in consequence of an event, this Schedule does not apply if—
(a)the gain is attributable (whether directly or indirectly and whether in whole or part) to the disposal of an asset on or after 6th April 1988, or
(b)the amount of the gain would have been less had relief by virtue of a previous application of this Schedule been duly claimed.
(5)None of sections 134, 140(4), 154(2) and 248(3) shall apply in consequence of an event occurring on or after 6th April 1988 if its application would be directly attributable to the disposal of an asset on or before 31st March 1982.
Textual Amendments
F1Words in Sch. 4 para. 4(2) omitted (with effect in accordance with Sch. 2 para. 76 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 74(4)
F2Words in Sch. 4 para. 4(2) repealed (28.7.2000) by Finance Act 2000 (c. 17), Sch. 40 Pt. II(12)
F3Sch. 4 para. 4(3) repealed (28.7.2000) by Finance Act 2000 (c. 17), Sch. 40 Pt. II(12)
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