http://www.legislation.gov.uk/uksi/1996/846/contents/made

The Personal Equity Plan (Amendment) Regulations 1996

Tax

Investment

Capital gains tax

King's Printer of Acts of Parliament

2016-01-21

INCOME TAX

These Regulations, which come into force on 6th April 1996, further amend the Personal Equity Plan Regulations 1989 (S.I. 1989/469, amended by S.I. 1990/678, 1991/733, 2774, 1992/623, 1993/756 and 1995/1539 and 3287) (“the principal Regulations”). The principal changes are the insertion of provisions which provide for the making of an application to subscribe to a plan by a person who has been appointed under the law of Scotland as a curator bonis for a person who is suffering from incapacity; provisions which modify the effect of the pooling rules in the Taxation of Chargeable Gains Act 1992 when a person subscribes to a plan by transferring or renouncing rights to shares; a provision taking account of the application of the lower rate of income tax to income from savings; and provisions consequent on the introduction of self-assessment for the determination of the relevant dates from which interest runs in relation to assessments made under the principal Regulations.