[F1[F29(1)In any year of assessment capital payments made to a beneficiary by the trustees of a relevant settlement, in that year or any earlier year, are available for the purposes of paragraphs 8 to 8C subject to the following provisions.U.K.
(2)A capital payment is no longer available to the extent that chargeable gains have, by reason of it, been treated as accruing to the recipient in an earlier year of assessment—
(a)under this Schedule, or
(b)under section 87(4) or 89(2).
(3)Capital payments received—
(a)before 21st March 2000, or
(b)before the year of assessment preceding the year of assessment in which the original transfer of value was made,
shall be disregarded.]]
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
F2 Sch. 4C paras. 8, 8A-8C, 9 and cross-headings substituted for Sch. 4C paras. 8, 9 (10.7.2003) by Finance Act 2003 (c. 14), Sch. 29 para. 4(1) (with s. 163(4)-(6))