Finance Act 2014 (c. 26)

PART 1 Income tax, corporation tax and capital gains tax

CHAPTER 4 Other provisions

Capital gains

61 Capital gains roll-over relief: relevant classes of assets

(1) Section 155 of TCGA 1992 (relevant classes of assets) is amended as follows.

(2) After the heading “CLASS 7A” insert—

• “Assets within heads A and B below.

• Head A”

(3) Before the heading “CLASS 8” insert—

• “Head B

• Payment entitlements under the basic payment scheme (that is, the scheme of income support for farmers in pursuance of Regulation (EU) No 1307/2013 of the European Parliament and of the Council).”

(4) The amendments made by this section have effect where the disposal of the old assets (or an interest in them) or the acquisition of the new assets (or an interest in them) is on or after 20 December 2013.