SCHEDULES
SCHEDULE 10Tax
Part 2Provisions relating to Part 5
Capital Gains Tax
3
1
If a gain attributable to a Part 5 transfer accrues to the transferor, it is not a chargeable gain.
2
But if a compensating payment is made to the transferor—
a
sub-paragraph (1) does not apply, and
b
the consideration for the transfer is the amount of the compensating payment.
3
If a gain attributable to the forfeiture under section 298 of property consisting of—
a
notes or coins in any currency other than sterling,
b
anything mentioned in section 289(6)(b) to (d), if expressed in any currency other than sterling, or
c
bearer bonds or bearer shares,
accrues to the person who holds the property immediately before the forfeiture, it is not a chargeable gain.
4
This paragraph has effect as if it were included in Chapter 1 of Part 2 of the Taxation of Chargeable Gains Act 1992 (c. 12).