[284A Concessions that defer a charge]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[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 for the first chargeable period by the original taxpayer is repudiated for any later chargeable period (whether by the original taxpayer or by another person), the enactments relating to the taxation of chargeable

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Title guarantee and covenants for title

On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.

LEXISNEXIS

Specific performance of property agreements

If a party to a property agreement fails to comply with its obligations, the other party may wish to apply for an order for specific performance. Specific performance is an equitable, discretionary remedy which, if granted, compels a party to perform a contractual obligation. This Practice Note

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses

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