SCHEDULES
SCHEDULE 2Capital gains tax reform
Abolition of “kink” test
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1
Schedule 2 (assets held on 6 April 1965) is amended as follows.
2
Omit paragraph 1(3).
3
In paragraph 4—
a
omit sub-paragraph (6),
b
in sub-paragraph (8), for “him” substitute “
the person
”
,
c
in sub-paragraph (9)—
i
for “either section 58 or”
(in both places) substitute “
section
”
,
ii
omit “the spouse or civil partner of the holder, or”, and
iii
for “him” substitute “
the holder
”
,
d
in sub-paragraph (10)(a), for “he”
(in both places) substitute “
the person
”
, and
e
in sub-paragraph (11), omit—
i
paragraph (a),
ii
in paragraph (b), “in the case of an election for the purposes of corporation tax,”, and
iii
in paragraph (c), “in either case,”.
4
In paragraph 17(3) omit—
a
paragraph (a),
b
in paragraph (b), “in the case of an election for the purposes of corporation tax,”, and
c
in paragraph (c), “in either case,”.
5
Omit paragraph 22.