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Changes over time for: Cross Heading: Abolition of “halving relief”


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 08/03/2017.
Changes to legislation:
Finance Act 2008, Cross Heading: Abolition of “halving relief” is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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Abolition of “halving relief”U.K.
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—
“Application of ScheduleU.K.
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.
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