Part 1 Reporting Limits
Finance Act 2003 (2003 c 14) | Legislation

SCHEDULE 28 Capital Gains Tax: Reporting Limits and Annual Exempt Amount

Section 159

Part 1 Reporting Limits

1

After section 3 of the Taxation of Chargeable Gains Act 1992 (c 12) insert—

“3´¡
Reporting limits

(1)     Where in the case of an individual—

(a)     the amount of chargeable gains accruing to him in any year of assessment does not exceed the exempt amount for that year, and

(b)     the aggregate amount or value of the consideration for all chargeable disposals of assets made by him in that year does not exceed four times the exempt amount for that year,

a statement to that effect is sufficient

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent misrepresentation, unless the representor can prove they had reasonable grounds for believing the statement to be true. If the representor had reasonable grounds for believing the statement to be

LEXISNEXIS

Rescission of a contract

Rescission of a contractWhat is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual

LEXISNEXIS

Possession of a bladed article

Possession of a bladed articleThe offence of possession of a bladed articleThe offence of having a bladed article in a public place can be tried in either the magistrates' court or the Crown Court. The magistrates' court will decline jurisdiction in those cases where it appears that its powers of

LEXISNEXIS

Facilitation payments under the Bribery Act 2010

Facilitation payments under the Bribery Act 2010Facilitating the performance of a duty by public officialsFacilitation payments, also known as facilitating or grease payments, are generally small amounts of money paid to public officials or others as a means of ensuring that they perform their duty,