SCHEDULES
SCHEDULE 2Capital gains tax reform
Abolition of taper relief
26
1
Section 3 (annual exempt amount) is amended as follows.
2
In subsection (5), for the words from “which, after” to the end of paragraph (c) substitute “
which
”
.
3
In subsection (5C)(c)—
a
for “in a year in which any amount falls to be brought into account by virtue of section 2(5)(b)” substitute “
if section 2(4) applies for that year,
”
, and
b
for “falling to be so brought into account” substitute “
mentioned in section 2(4)(b)(ii)
”
.