SCHEDULES

SCHEDULE 39 Enactment of Certain Inland Revenue Extra-Statutory Concessions

Part II Chargeable Gains

Retirement Relief

F17

1

Paragraph 14 of Schedule 6 to the Taxation of Chargeable Gains Act 1992 shall be amended as follows.

2

In subparagraph (2), the word “original” shall be inserted before “ qualifying period ”.

3

The following subparagraphs shall be inserted at the end:

7

In relation to the expression “the original qualifying period”, the questions whether a disposal is a qualifying disposal and whether the period relating to that disposal is a qualifying period shall be determined without regard to the requirement that the length of the period be at least one year.

8

This paragraph shall not apply if the extended qualifying period resulting from the operation of subparagraphs (1) to (7) would be a period of less than one year.

4

The amendments made by this paragraph shall have effect in relation to disposals made on or after 6th April 1996.