Statutory Instruments

2016 No. 597

Capital Gains Tax

The Lloyd’s Underwriters (Roll-over Relief on Disposal of Assets of Ancillary Trust Fund) (Tax) Regulations 2016

Made

23rd May 2016

Laid before the House of Commons

25th May 2016

Coming into force

16th June 2016

The Commissioners for Her Majesty’s Revenue and Customs, in exercise of the powers conferred by section 182(1)(b) of the Finance Act 1993(1), and now vested in them(2), and considering it expedient to make amendments to Chapter III, Part II of that Act having regard to changes in the rules of Lloyd’s, make the following Regulations:

(1)

1993 c. 34.

(2)

The functions of the Commissioners of Inland Revenue were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5 of the Commissioners for Revenue and Customs Act 2005 (c. 11). Section 50(1) of that Act provides that in consequence of section 5 a reference in an enactment, instrument or other document to the Commissioners of Inland Revenue (however expressed) shall be taken as a reference to the Commissioners for Her Majesty’s Revenue and Customs.