Finance Act 2014, Paragraph 13 is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
13(1)Section 72 (property leaving employee trusts and newspaper trusts) is amended as follows.U.K.
(2)In subsection (2), after “Subject to subsections” insert “ (3A), ”.
(3)After subsection (3) insert—
“(3A)Where settled property ceases to be property to which this section applies because paragraph (d) of section 86(3) no longer applies, tax is not chargeable under this section by virtue of subsection (2)(a) if the only reason that paragraph no longer applies is that one or both of the trading requirement and the controlling interest requirement mentioned in that paragraph are no longer met with respect to the company so mentioned.”
(4)The amendments made by this paragraph are treated as having come into force on 6 April 2014.
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