Version Superseded: 12/02/2019
Point in time view as at 26/05/2015.
Taxation of Chargeable Gains Act 1992, Paragraph 6 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.
[F16(1)For the purposes of this Schedule the chargeable amount in relation to a transfer of value shall be reduced by [F2the amount of any chargeable gains] arising by virtue of that transfer of value that—U.K.
(a)are by virtue of section 86(4) treated as accruing to the settlor, or
(b)where section 10A applies, are treated by virtue of that section (as it has effect subject to paragraph 12 below) as accruing to the settlor in the [F3period of return].
F4(1A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)In determining for the purposes of sub-paragraph (1)(a) the amount of chargeable gains arising by virtue of a transfer of value that are treated as accruing to the settlor, there shall be disregarded any losses which arise otherwise than by virtue of Schedule 4B.
F5(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ]
Textual Amendments
F1Sch. 4C inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(4), Sch. 26 Pt. I
F2Words in Sch. 4C para. 6(1) substituted (with effect in accordance with Sch. 2 para. 56(3) of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 47(2)
F3Words in Sch. 4C para. 6(1)(b) substituted (with effect in accordance with Sch. 45 para. 153(3) of the amending Act) by Finance Act 2013 (c. 29), Sch. 45 para. 123(2)
F4Sch. 4C para. 6(1A) omitted (with effect in accordance with Sch. 2 para. 56(3) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 47(3)
F5Sch. 4C para. 6(3) omitted (with effect in accordance with Sch. 2 para. 22 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 9
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