SCHEDULES
F1SCHEDULE 4AARe-basing for non-residents in respect of UK land etc held on 5 April 2019
Annotations:
Amendments (Textual)
PART 3Direct disposals of Pre-April 2015 assets fully chargeable before 6 April 2019
Calculation of residential property gain if election made under paragraph 8 or 9
10
1
This paragraph applies if—
a
a person makes an election under paragraph 8 in respect of a disposal on which a gain accrues, and
b
it is necessary to determine, in accordance with Schedule 1B, how much of the gain is a residential property gain.
2
Paragraph 2 of Schedule 1B has effect as if—
a
sub-paragraphs (5) and (6) of that paragraph were omitted, and
b
in that paragraph, “the applicable period” had the definition given by the next sub-paragraph.
3
“The applicable period” means the period—
a
beginning with the day on which the person acquired the interest in land being disposed of or, if later, 31 March 1982, and
b
ending with the day before the day on which the disposal is made.
Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17