Version Superseded: 10/07/2003
Point in time view as at 28/07/2000.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Taxation of Chargeable Gains Act 1992. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Textual Amendments
F1Sch. 4C inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(4), Sch. 26 Pt. I
6(1)For the purposes of this Schedule the chargeable amount in relation to a transfer of value shall be reduced by the amount of any chargeable gains arising by virtue of that transfer of value that—U.K.
(a)are by virtue of section 86(4) treated as accruing to the settlor, or
(b)where section 10A applies, are treated by virtue of that section (as it has effect subject to paragraph 12 below) as accruing to the settlor in the year of return.
(2)In determining for the purposes of sub-paragraph (1)(a) the amount of chargeable gains arising by virtue of a transfer of value that are treated as accruing to the settlor, there shall be disregarded any losses which arise otherwise than by virtue of Schedule 4B.
(3)In computing the chargeable amount in relation to a transfer of value the effect of sections 77 to 79 shall be ignored.]
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