Finance Act 2003

Gains attributed to settlor

5 (1) Paragraph 6 is amended as follows.

(2) In sub-paragraph (1), in the opening words, for “the amount of any chargeable gains” substitute “the tapered amount of any chargeable gains”.

(3) After that sub-paragraph insert—

“(1A) The reference in sub-paragraph (1) to the tapered amount of any chargeable gains is a reference—

(a) where section 86(4) applies, to the tapered section 86(4) amount as defined in section 87(3A);

(b) where section 10A applies, to the tapered section 86(1)(e) amount as defined in section 86A(7A).”.