Point in time view as at 01/04/2006.
There are currently no known outstanding effects for the Finance Act 2004, Cross Heading: Recovery of tax from donee.
7(1)Section 282 of the Taxation of Chargeable Gains Act 1992 (c. 12) is amended as follows.U.K.
(2)After subsection (4) insert—
“(5)This section applies in relation to a chargeable gain accruing to a transferor under section 169C(7) (clawback of relief under section 165 or 260 if settlement becomes settlor-interested etc) as it applies in relation to a chargeable gain accruing to a person on the disposal of an asset by way of gift.
(6)For the purposes of this section as applied by subsection (5) above—
(a)the transferor shall be taken to be the donor, and
(b)the trustees to whom the relevant disposal (within the meaning of section 169C) in question was made shall be taken to be the donee.”.
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