SCHEDULES

SCHEDULE 28Capital gains tax: reporting limits and annual exempt amount

Part 2Annual exempt amount

5

1

Paragraph 2 of that Schedule is amended as follows.

2

In sub-paragraph (1) for “section 3(1) to (6)” substitute “ sections 3(1) to (5C) and 3A ”.

3

In sub-paragraph (2)—

a

for “subsections (1) and (5)” substitute “ section 3(1), (5A), (5B) and (5C) ”;

b

after “section 3(1), (5A), (5B) and (5C)” insert “ and section 3A(1)(a) ”.

4

After sub-paragraph (2) insert—

2A

As they apply by virtue of sub-paragraph (1) above—

a

section 3(5A) has effect with the omission of paragraph (b), and

b

section 3(5B) has effect with the omission of the words “or (b)”.

5

Omit sub-paragraph (3).

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