SCHEDULES

SCHEDULE 20 U.K. Self-assessment: discretions exercisable by the Board etc.

The Taxation of Chargeable Gains Act 1992 U.K.

49 U.K. In section 49 of the Gains Act (contingent liabilities) for subsection (2) (adjustment to be made if it is shown to the satisfaction of the inspector that a contingent liability has become enforceable) there shall be substituted—

“(2) If any such contingent liability subsequently becomes enforceable and is being or has been enforced, there shall be made, on a claim being made to that effect, such adjustment, whether by way of discharge or repayment of tax or otherwise, as is required in consequence.”