Finance Act 2019

ITA 2007

106 (1) Section 809YD (chargeable gains accruing on sales of exempt property) is amended as follows.

(2) In subsection (1)(c)(ii), for “section 13” substitute “section 3”.

(3) In subsection (3), for “section 12 of TCGA 1992” substitute “paragraph 1 of Schedule 1 to TCGA 1992”.

(4) In subsection (5)(a)—

(a) for “section 10A” substitute “section 1M”, and

(b) for “the year of return” substitute “the tax year that consists of or includes the period of return”.

(5) In subsection (7)—

(a) in the opening words, for “fell within the definition of foreign chargeable gains in section 12(4) of that Act” substitute “accrued on the disposal of a foreign asset (within the meaning of Schedule 1 to TCGA 1992)”, and

(b) for paragraphs (a) to (d) substitute—

“(a) section 1M,

(b) section 3D, and

(c) Schedule 1.”

(6) In subsection (8), for “section 14A(2)” substitute “section 3D(2)”.