This is the original version (as it was originally enacted).
112(1)Section 91 (increase in tax payable under section 87 or 89(2)) is amended as follows.
(2)For subsection (1) substitute—
“(1)This section applies if—
(a)chargeable gains are treated under section 87 or 89(2) as accruing to a beneficiary by virtue of the matching (under section 87A) of all or part of a capital payment with the section 2(2) amount for a tax year (“the relevant tax year”),
(b)the beneficiary is charged to tax by virtue of that matching, and
(c)the capital payment was made more than one year after the end of the relevant tax year.
(1A)Where part of a capital payment is matched, references in subsections (2) and (3) to the capital payment are to the part matched.”
(3)In subsection (5)(a), for the words from “year” to the end (excluding the “and”) substitute “tax year immediately after the relevant tax year,”.
(4)Omit subsection (8).
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