72U.K.TCGA 1992 is amended as follows.
73U.K.In section 36 (reduction of deferred charges where wholly or partly attributable to pre-31 March 1982 increase in value), for “tax” substitute “ corporation tax in respect of chargeable gains ”.
74(1)Schedule 4 (deferred charges on pre-31 March 1982 gains) is amended as follows.U.K.
(2)Before paragraph 1 insert—
A1This Schedule applies only for the purposes of corporation tax.”
(3)In paragraph 2(5), omit—
(a)“, 162, 165”, and
(b)“of this Act and section 79 of the Finance Act 1980”.
(4)In paragraph 4(2), omit “168 (as modified by section 67(6)),”.
(5)In paragraph 9(1), omit—
(a)in paragraph (b), “in the case of a disposal made by, or a gain treated as accruing to, a person chargeable to corporation tax,”,
(b)paragraph (c), and
(c)“or (as the case may be) on or before such later date”.
75U.K.In consequence of paragraph 74, omit paragraph 43 of Schedule 21 to FA 1996.
76U.K.The amendments made by paragraphs 72 to 75 have effect in relation to disposals which occur on or after 6 April 2008 and to which Schedule 4 to TCGA 1992 would otherwise apply.