SCHEDULES
SCHEDULE 2Capital gains tax reform
Abolition of “kink” test
65
1
Schedule 3 (assets held on 31 March 1982) is amended as follows.
2
In paragraph 1—
a
in sub-paragraph (1)—
i
for “Where—” substitute “
For the purposes of corporation tax, where—
”
, and
ii
for “he”
(in each place) substitute “
the person
”
, and
b
in sub-paragraph (2), for “enactments specified in section 35(3)(d)” substitute “
no gain/no loss provisions
”
.
3
In paragraph 2(1) and (3), omit “58 or”.