Schedule 4 | Deferred Charges On Gains Before 31St March 1982 | Taxation Of Chargeable Gains Act 1992 C12

SCHEDULE 4 Deferred Charges on Gains Before 31st March 1982

Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

SCHEDULE 4 Deferred Charges on Gains Before 31st March 1982

Section 36 [Application of Schedule

This Schedule applies only for the purposes of corporation tax.]

Reduction of deduction or gain

Where this Schedule applies—

(a) in a case within paragraph 2 below, the amount of the deduction referred to in that paragraph, and

(b) in a case within paragraph 3 or 4 below, the amount of the gain referred to in that paragraph,

shall be one half of what it would be apart from this Schedule.

Charges rolled-over or held-over

(1) Subject to sub-paragraphs (2) to (4) below, this Schedule applies on a disposal, not being a no gain/no loss disposal, of an asset if—

(a) the person making the disposal acquired the asset after 31st March 1982,

(b) a deduction falls to be made by virtue of any of the enactments specified in sub-paragraph (5) below from the expenditure which is allowable in computing the amount of any gain accruing on the disposal, and

(c) the deduction is attributable (whether directly or indirectly and whether in whole or in part) to a chargeable gain accruing on the disposal before