Finance Act 2008 (c. 9)

SCHEDULES

SCHEDULE 2 U.K. Capital gains tax reform

Abolition of taper relief U.K.

31 (1) Section 86A (attribution of gains to settlor in section 10A cases) is amended as follows. U.K.

(2) In subsection (2)—

(a) for “the tapered section 86(1)(e) amount” substitute “ the amount falling within section 86(1)(e) ”, and

(b) for “the tapered section 86(1)(e) amounts” substitute “ the amounts falling within section 86(1)(e) ”.

(3) Omit subsection (2A).

(4) Omit subsection (2B).

(5) In subsection (7), for “the tapered section 10A amount” substitute “ the amount (or aggregate amount) falling in accordance with that section to be so attributed ”.

(6) Omit subsection (7A).