Finance Act 2004 (c. 12)

SCHEDULES

SCHEDULE 22 U.K. Chargeable gains: private residence relief

Private residence occupied under terms of settlement U.K.

4 (1) Section 225 of the Taxation of Chargeable Gains Act 1992 is amended as follows. U.K.

(2) In the opening words—

(a) for “a trustee” substitute “ the trustees of a settlement ”, and

(b) for “the trustee” substitute “ the trustees ”.

(3) In paragraph (a), for “the trustee” substitute “ the trustees ”.

(4) In paragraph (b)—

(a) for “the inspector” substitute “ an officer of the Board ”, and

(b) for “the trustee” substitute “ the trustees ”.

(5) At the end of that paragraph insert “ ; but section 223 (as so applied) shall apply only on the making of a claim by the trustees. ”.