281 Payment by instalments of tax on gifts
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

281  Payment by instalments of tax on gifts

(1)     Subsection (2) below applies where—

(a)     the whole or any part of any assets to which this section applies is disposed of by way of gift or is deemed to be disposed of under section 71(1) or 72(1), and

(b)     the disposal is one—

(i)     to which neither section 165(4) nor section 260(3) applies (or would apply if a claim were duly made), or

(ii)     to which either of those sections does apply but on which the held-over gain (within the meaning of the section applying) is less than the chargeable gain which would have accrued on that disposal apart from that section.

(2)     Where this subsection applies, the capital gains tax chargeable on a gain accruing on the disposal may, if the person paying it by notice to [an officer of the Board] so elects, be paid by 10 equal yearly instalments.

(3)     The

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