SCHEDULES
SCHEDULE 2Capital gains tax reform
64Abolition of “kink” test
1
Schedule 2 (assets held on 6 April 1965) is amended as follows.
2
Omit paragraph 1(3).
3
In paragraph 4—
a
omit sub-paragraph (6),
b
in sub-paragraph (8), for “him” substitute “the person”,
c
in sub-paragraph (9)—
i
for “either section 58 or” (in both places) substitute “section”,
ii
omit “the spouse or civil partner of the holder, or”, and
iii
for “him” substitute “the holder”,
d
in sub-paragraph (10)(a), for “he” (in both places) substitute “the person”, and
e
in sub-paragraph (11), omit—
i
paragraph (a),
ii
in paragraph (b), “in the case of an election for the purposes of corporation tax,”, and
iii
in paragraph (c), “in either case,”.
4
In paragraph 17(3) omit—
a
paragraph (a),
b
in paragraph (b), “in the case of an election for the purposes of corporation tax,”, and
c
in paragraph (c), “in either case,”.
5
Omit paragraph 22.