Amendment of Schedule 5AAA to the Taxation of Chargeable Gains Act 1992
This section has no associated Explanatory Memorandum
14. After paragraph 33 insert—
“Disapplication of paragraphs 5 and 6 of Schedule 1A
33A.—(1) If—
(a)an election under paragraph 12 has been made in respect of a collective investment vehicle, and
(b)there is a disposal of a unit in the vehicle,
nothing in paragraph 5 or 6 of Schedule 1A (exceptions) applies to the disposal.
(2) If—
(a)an election under paragraph 12 has been made in respect of a qualifying company, and
(b)there is a disposal of a unit in the relevant fund,
nothing in paragraph 5 or 6 of that Schedule applies to the disposal so far as it constitutes a disposal of a right or interest in the qualifying company.”.