123(1)Schedule 4C (transfers of value: attribution of gains to beneficiaries) is amended as follows.U.K.
(2)In paragraph 6(1)(b), for “year of return” substitute “ period of return ”.
(3)In paragraph 12(1)—
(a)for paragraph (a) substitute—
“(a)by virtue of section 10A, an amount of chargeable gains within section 86(1)(e) that accrued in a tax year (“year A”) to the trustees of a settlement would be treated as accruing to a person (“the settlor”) in the period of return, and”, and
(b)in paragraph (b), for “the intervening year” substitute “ year A ”.
(4)In paragraph 12(2), for “year of return” substitute “ period of return ”.
(5)In paragraph 12A(1)—
(a)for “year of return” substitute “ period of return ”, and
(b)for “an intervening year” substitute “ the temporary period of non-residence ”.