No versions valid at: 27/07/1999
Point in time view as at 27/07/1999. This version of this cross heading contains provisions that are not valid for this point in time.
Finance Act 1999, Paragraph 5 is up to date with all changes known to be in force on or before 06 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.
Valid from 06/02/2000
5(1)The amount of tax chargeable after any reduction under paragraph 4 shall be further reduced if in the relevant two-week period the trust property is invested in both exempt and non-exempt investments.U.K.
(2)The reduction is made by applying the following fraction to that amount—
Where:
N is the average market value of the non-exempt investments over the relevant two-week period, and
E is the average market value of the exempt investments over that period.
(3)In this paragraph “exempt investment” has the same meaning as in section 99(5A)(b) of the M1Finance Act 1986; and “non-exempt investment” means any investment that is not an exempt investment.
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