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Finance Act 1995

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This is the original version (as it was originally enacted).

10(1)This paragraph applies where, in the case of any income (other than income falling within paragraph 6 or 9 above) arising to any person from any source—

(a)paragraph 4(2) or 6(2)(a) of Schedule 20 to the [1994 c. 9.] Finance Act 1994 applies; and

(b)any amount which is included in the income arising within the years 1995-96 and 1996-97 would not have been so included if—

(i)any relevant arrangements made between that person and another had not been made; or

(ii)any relevant transaction entered into by that person had not been entered into.

(2)Subject to sub-paragraph (3) below, the said paragraph 4(2) or 6(2)(a) shall have effect as if the reference to 50 per cent. of the aggregate of the amounts there mentioned were a reference to the aggregate of—

(a)50 per cent. of each of those amounts; and

(b)62.5 per cent. of each of the amounts falling within sub-paragraph (1)(b) above.

(3)Sub-paragraph (3) of paragraph 9 above shall apply for the purposes of this paragraph as it applies for the purposes of that paragraph.

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