Source: http://www.legislation.gov.uk/ukpga/1995/4/schedule/16/crossheading/gain-accruing-on-chargeable-event?view=extent
Timestamp: 2013-05-22 20:58:24
Document Index: 370573795

Matched Legal Cases: ['art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsHomeAbout UsBrowse LegislationNew LegislationChanges to LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchFinance Act 1995You are here:1995 c. 4SCHEDULE 16 Gain accruing on chargeable eventTable of ContentsContentMore ResourcesPrevious: CrossheadingNext: CrossheadingPlain ViewPrint Options
What VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of Changes Opening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyChanges to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 1995. Any changes that have already been made by the team appear in the content and are referenced with annotations.Changes to LegislationRevised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.Commencement Orders yet to be applied to the Finance Act 1995:Commencement OrdersThis section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing provisions within this Act into force:S.I. 2005/1523 art. 2 commences (1995 c. 4)Commencement Orders bringing legislation that affects this Act into force:S.I. 2005/1126 art. 2 commences (2005 c. 11)S.I. 2009/402 art. 2 commences (2008 c. 9)S.I. 2009/511 art. 2 commences (2008 c. 9)S.R. 2006/21 art. 2 commences (S.I. 2005/1455 (N.I.))S.R. 2006/22 art. 2-7 transitional provisions for effects of SR 2006/21 Gain accruing on chargeable eventE+W+S+N.I.4(1)On the occurrence of a chargeable event in relation to any relevant shares in relation to which there has not been a previous chargeable event—E+W+S+N.I.(a)a chargeable gain shall be treated as accruing at the time of the event; and(b)the amount of the gain shall be equal to so much of the original gain as is an amount against which there has under this Schedule been set any expenditure on those shares.(2)In determining for the purposes of this Schedule any question whether any shares to which a chargeable event relates are shares the expenditure on which has under this Schedule been set against the whole or any part of any gain, the assumptions in sub-paragraph (3) below shall apply and, in a case where the shares are not (within the meaning of section 151B) eligible for relief under section 151A(1), shall apply notwithstanding anything in any of sections 104, 105 and 107.(3)Those assumptions are that—(a)as between shares acquired by the same person on different days, those acquired on an earlier day are disposed of by that person before those acquired on a later day; and(b)as between shares in a company that were acquired on the same day, those the expenditure on which has been set under this Schedule against the whole or any part of any gain are disposed of by that person only after he has disposed of any other shares in that company that were acquired by him on that day.(4)Where at the time of a chargeable event any relevant shares are treated for the purposes of this Act as represented by assets which consist of or include assets other than the relevant shares—(a)the expenditure on those shares which was set against the gain in question shall be treated, in determining for the purposes of this paragraph the amount of expenditure on each of those assets which is to be treated as having been set against that gain, as apportioned in such manner as may be just and reasonable between those assets; and(b)as between different assets treated as representing the same relevant shares, the assumptions mentioned in sub-paragraph (3) above shall apply with the necessary modifications in relation to those assets as they would apply in relation to the shares.Previous: CrossheadingNext: CrossheadingBack to topOptions/HelpPrint OptionsPrint The Whole ActPDF The Whole ActWeb page The Whole ActPrint The Whole SchedulePDF The Whole ScheduleWeb page The Whole SchedulePrint This Cross Heading onlyPDF This Cross Heading onlyWeb page This Cross Heading onlyYou have chosen to open The Whole ActThe Whole Act you have selected contains over 200 provisions and might take some time to download. 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