SCHEDULES

SCHEDULE 1Chargeable gains accruing to non-residents etc

PART 2Consequential amendments

106ITA 2007

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)”.