The Taxation of Chargeable Gains Act 1992, Schedule 8B (Substitution of Dates) Regulations 2019

Statutory Instruments

2019 No. 1237

Capital Gains Tax

The Taxation of Chargeable Gains Act 1992, Schedule 8B (Substitution of Dates) Regulations 2019

Made

5th September 2019

Laid before the House of Commons

9th September 2019

Coming into force

4th November 2019

The Treasury, in exercise of the powers conferred by paragraphs 1(8) and 2(6) of Schedule 8B to the Taxation of Chargeable Gains Act 1992(1), make the following Regulations.

Citation and commencement

1.  These Regulations may be cited as the Taxation of Chargeable Gains Act 1992, Schedule 8B (Substitution of Dates) Regulations 2019 and come into force on 4th November 2019.

Amendments to the Taxation of Chargeable Gains Act 1992

2.  In paragraphs 1(3)(b) and 2(2)(b) of Schedule 8B to the Taxation of Chargeable Gains Act 1992 for “6 April 2019” substitute “6 April 2021”.

Michelle Donelan

Rebecca Harris

Two of the Lord Commissioners of Her Majesty’s Treasury

5th September 2019

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations extend the date of the sunset clauses in paragraphs 1(3)(b) and 2(2)(b) of Schedule 8B to the Taxation of Chargeable Gains Act 1992 (c. 12). The effect of these substitutions is that the date by which a gain must accrue for the purposes of tax relief for social investments is now 6 April 2021.

A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.

(1)

1992 c. 12; Schedule 8B was inserted by the Finance Act 2014 (c. 26), section 57 and Schedule 12, paragraphs 1 and 3.