Finance Act 2018

17 U.K. In section 734 (amount charged under section 731 is reduced by prior gains)—

(a) in subsection (1) omit paragraphs (b) and (c), but not the “and” at the end of paragraph (c),

(b) for subsection (1)(d) substitute—

“(d) chargeable gains are treated by section 87, 87K, 87L or 89(2) of, or paragraph 8 of Schedule 4C to, TCGA 1992 as accruing to a person in that or a subsequent tax year by reference (direct or indirect) to the whole or part of any benefits so provided.”, and

(c) in subsection (4)—

(i) for “and “the available relevant income” have” substitute “ has ”, and

(ii) for “Steps 2 and 5” substitute “ Step 2 ”.