Part 2 Consequential Amendments
Finance Act 2019 (2019 c 1) | Legislation

Part 2 Consequential Amendments

TMA 1970

22

In TMA 1970, after section 8B insert—

“8C Returns so far as relating to capital gains tax

(1)     This section applies if—

(a)     the amount of chargeable gains accruing to a person in a tax year does not exceed the annual exempt amount for the year applicable to the person under section 1K of the 1992 Act,

(b)     the total amount or value of the consideration for all chargeable disposals of assets made by the person in the year does not exceed four times that annual exempt amount,

(c)     the person is not a remittance-basis individual for the year, and

(d)     a notice under section 8 or 8A is given to the person requiring information for the purpose of establishing the amount in which the person is chargeable to capital gains tax for the year.

(2)     If the person makes a statement confirming the matters set out in subsection (1)(a) to (c), the statement constitutes sufficient compliance with that requirement.

(3)     For the purposes of this section every disposal is a “chargeable disposal” other than—

(a)     a disposal on which any gain accruing is not a chargeable gain, and

(b)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Pre-trial and case management hearings in the Crown Court

Pre-trial and case management hearings in the Crown CourtCoronavirus (COVID-19): This Practice Note contains guidance on subjects impacted by the Coronavirus Act 2020 (CA 2020). CA 2020, among other measures, makes provision for the extended use of live links and audio links in criminal proceedings.

LEXISNEXIS

What is electronic money?

What is electronic money?BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant

LEXISNEXIS

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for

LEXISNEXIS

Mortgagees and tenants

Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must be obtained prior to completion of the lease. On the grant of an underlease, mortgagee’s consent in respect of any mortgage over