ihta84/sch8/para10.- The Capital Gains Tax Act 1979

Section 276

10.(1) Section 147 of the Capital Gains Tax Act 1979 shall be amended as follows.

(2) In subsection (1) for the words "sub-paragraph (2) of paragraph 13 of Schedule 6 to the Finance Act 1975" there shall be substituted the words "subsection (2) of section 26 of the Capital Transfer Tax Act 1984" and for the words "sub-paragraph (1) of that paragraph" there shall be substituted the words "subsection (1) of that section".

(3) In subsection (2)-

(a) in paragraph (a) for the words "paragraph 12 of the said Schedule 6" there shall be substituted the words "Schedule 3 to the Capital Transfer Tax Act 1984"; and

(b) in paragraph (b) for the words "paragraph 17 of Schedule 4 to the said Act of 1975" there shall be substituted the words "section 230 of the Capital Transfer Tax Act 1984".

(4) In subsection (3) for the words "section 77 of the Finance Act 1976" there shall be substituted the words "section 31 of the Capital Transfer Tax Act 1984" and for the words "the said section 77" there shall be substituted the words "the said section 31".

(5) In subsection (5) for the words "section 78 of the Finance Act 1976" there shall be substituted the words "section 32 of the Capital Transfer Tax Act 1984".

(6) In subsection 7-

(a) for the words "section 77(1)(c), (d) or (e) of the Finance Act 1976" there shall be substituted the words "section 31(1)(c), (d) or (e) of the Capital Transfer Tax Act 1984;

(b) for the words "the said section 77(1)(c)" there shall be substituted the words "the said section 31(1)(c)"; and

(c) for the words "the said section 77(1)(d) or (e)" there shall be substituted the words "the said section 31(1)(d) or (e)".

(7) In subsection (9) after the word "under" there shall be inserted the words "Chapter II of Part II or section 78 of, or Schedule 5 to, the Capital Transfer Tax Act 1984".