- Latest available (Revised)
- Point in Time (06/03/1992)
- Original (As enacted)
Version Superseded: 19/02/1993
Point in time view as at 06/03/1992.
There are currently no known outstanding effects for the Finance Act 1988, SCHEDULE 8.
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Textual Amendments
F1Sch. 8 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27) subject to the amendments to Sch. 8 para. 1 (16.7.1992 and 19. 2.1993 as to the amendment to Sch. 8 para. 1(3)(a)) by Finance (No. 2) Act 1992 (c. 48), ss. 49(7)(10), 56, 77, Sch. 9 para. 20(2)(b); S.I. 1993/236, art.2, Sch. 17 paras. 5(8), 7
1(1)Where—
(a)a person makes a disposal, not being a no gain/no loss disposal, of an asset which he acquired after 31st March 1982, and
(b)the disposal by which he acquired the asset and any previous disposal of the asset after 31st March 1982 was a no gain/no loss disposal,
he shall be treated for the purposes of section 96 of this Act as having held the asset on 31st March 1982.
(2)For the purposes of this paragraph a no gain/no loss disposal is one on which by virtue of any of the enactments specified in sub-paragraph (3) below neither a gain nor a loss accrues to the person making the disposal.
(3)The enactments mentioned in sub-paragraph (2) above are—
(a)sections 44, 56, 123A, 146(3), 147(4), 148 and 149A of the M1Capital Gains Tax Act 1979;
(b)sections 267, 273, [F2273A ,] 340(7), 342, 342A, 342B, 343(5) and 352(7) of the Taxes Act 1970;
(c)section 148 of the M2Finance Act 1982;
(d)section 7 of the M3Finance (No.2) Act 1983;
(e)paragraph 2 of Schedule 2 to the M4Trustee Savings Banks Act 1985;
[F3(ee)section 130(3) of the Transport Act 1985;]
(f)section 486(8) of the Taxes Act 1988; F4 . . .
(g)paragraph 4 of Schedule 12 to this Act [F5F6 . . .;
(h)paragraph 2(1) of Schedule 12 to the Finance Act 1990.][F7 and
(i)section 78(2) of the Finance Act 1991.]
Textual Amendments
F2Word in Sch. 8 para. 1(3)(b) inserted(for disposals on or after 20.03.1990) by Finance Act 1990 (c. 29, SIF 63:1,2), s. 70(7)(b)(9).
F3Sch. 8 para. 1(3)(ee) inserted(retrosp.) by Finance Act 1989 (c. 26, SIF 63:2), s. 141, Sch. 15 para. 4(2).
F4Word at end of Sch. 8 para. 1(3)(f) repealed(where the valuation date is on or after 20.03.1990) by Finance Act 1990 (c. 29, SIF 63:1), s. 132, Sch. 19 Pt. IV Note 13.
F5Sch. 8 para. 1(3)(h) and word preceeding it added by Finance Act 1990 (c. 29, SIF 63:1), s. 80, Sch. 12 para. 2(2).
F6Word in Sch. 8 para. 1(3)(g) repealed (25.07.1991) by Finance Act 1991 (c. 31, SIF 63:1), ss. 78(1)(7), 123, Sch. 19 Pt.V
F7Sch. 8 para. 1(3)(i) and word preceding it inserted (25.07.1991) by Finance Act 1991 (c. 31, SIF 63:1), s. 78(1)(7)
Marginal Citations
F82U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F8Sch. 8 para. 2 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch. 12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F93U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F9Sch. 8 para. 3 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F104U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F10Sch. 8 para. 4 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F115U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F11Sch. 8 para. 5 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F126U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F12Sch. 8 para. 6 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F137U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F13Sch. 8 para. 7 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F148U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F14Sch. 8 para. 8 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F159U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Sch. 8 para. 9 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F1610U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F16Sch. 8 para. 10 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F1711U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F17Sch. 8 para. 11 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F1812U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F18Sch. 8 para. 12 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F1913U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F19Sch. 8 para. 13 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
F2014U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F20Sch. 8 para. 14 repealed (6.3.1992 with effect as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch.12 (with ss. 101(1), 201(3), 290, Sch. 11 paras. 22, 26(2), 27)
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