Section 76 | Concessions That Defer A Capital Gains Charge | Finance Act 1999 C16

76 Concessions that defer a capital gains charge

Finance Act 1999 (1999 c 16) | Legislation

76 Concessions that defer a capital gains charge

(1) In Part VIII of the Taxation of Chargeable Gains Act 1992 (supplemental), after section 284 there shall be inserted the following sections—

“284A Concessions that defer a charge

(1) This section applies where—

(a) a person (“the original taxpayer”) has at any time obtained for any chargeable period (“the first chargeable period”) the benefit of any capital gains relief to which he had no statutory entitlement;

(b) the benefit of the relief was obtained in reliance on any concession;

(c) the concession was first published by the Board before 9th March 1999 or (having been published on or after that date) replaced a concession satisfying the requirements of this paragraph with a concession to the same or substantially the same effect; and

(d) the concession involved the application (with or without modifications), to a case to which they would not otherwise have applied, of the provisions of any enactment (“the relevant statutory provisions”).

(2) This section applies only if, at the time when the original taxpayer obtained the benefit of the relief, the concession was one available generally to any person falling within its terms.

(3) If the benefit obtained