SCHEDULE 8 Relevant High Value Disposals: Gains and Losses
Finance Act 2015 (2015 c 11) | Legislation

SCHEDULE 8 Relevant High Value Disposals: Gains and Losses

Section 38

Introduction

1

The Taxation of Chargeable Gains Act 1992 is amended as follows.

“Relevant high value disposalâ€

2

(1)     Section 2C (“relevant high value disposalâ€) is amended as follows.

(2)     In subsection (6), in the definition of “the relevant ownership period†for “6 April 2013†substitute “6 April in the relevant yearâ€.

(3)     In that subsection, after that definition insert—

““the relevant year†means—

(a)     in Case 1 in paragraph 2 of Schedule 4ZZA, 2013;

(b)     in Case 2 in that paragraph, 2015;

(c)     in Case 3 in that paragraph, 2016;â€.

(4)     In subsection (7)(b), for “1 April 2013†substitute “1 April in the relevant yearâ€.

Threshold amount for the tax year 2015–16

3

(1)     Section 2D (CGT on ATED-related gains: the threshold amount) is amended as follows.

(2)     In subsection (2) for “£2 million†substitute “£1 millionâ€.

(3)     In subsection (3) for “£2 million†substitute “£1 millionâ€.

(4)     In subsection (5) for ““£2 millionâ€â€ substitute ““£1 millionâ€â€.

(5)     The amendments made by this paragraph have effect in relation to disposals occurring in the tax year 2015–16.

Threshold amount from 6 April

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