In section 279B(1) (provisions supplementary to section 279A), for paragraph (b) substitute—

“(b)

the person would be so chargeable if—

(i)

chargeable gains accrued to the person in the year, and

(ii)

the amount calculated under section 2(2) for the year in relation to the person exceeded the exempt amount for the year (within the meaning of section 3).”