Source: http://www.legislation.gov.uk/ukpga/1998/36/section/121
Timestamp: 2017-01-18 03:01:05
Document Index: 11829233

Matched Legal Cases: ['art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 25', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout 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 1998You are here:1998 c. 36Part IIIChapter II Taper relief and indexation allowanceSection 121Table of ContentsContentMore ResourcesPrevious: ProvisionNext: ProvisionPlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of ChangesOpening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyMore ResourcesOriginal Print PDFView moreChanges to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 1998. 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.Changes and effects yet to be applied to :Changes and effectsThis section lists the changes and effects yet to be applied to the specific provision you are viewing.s. 121(1) omitted by 2008 c. 9 Sch. 2 para. 55(a)(i)s. 121(2) omitted by 2008 c. 9 Sch. 2 para. 55(a)(i)Changes and effects yet to be applied to the whole Act associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this 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.Act amendment to earlier affecting provision SI 2007/1050 reg. 3-12 by 2009 c. 4 Sch. 2 para. 131Act applied in part (with modifications) (as amended by 2009 c. 4 Sch. 2 para. 131) by S.I. 2007/1050 reg. 3-12 (This SI is amended by 2009 c. 4 Sch. 2 para. 131)Blanket amendment words substituted by S.I. 2011/1043 art. 3 4Blanket amendment words substituted by S.I. 2011/1043 art. 3 6Whole provisions yet to be inserted into this Act (including any effects on those provisions):s. 123(7)(c) and word added by 2005 c. 5 Sch. 1 para. 504(c)Sch. 1A excluded by 2010 c. 8 s. 371UB(5) (as inserted) by 2012 c. 14 Sch. 20 para. 1Sch. 18 para. 50-50G applied (with modifications) by 2010 c. 13 Sch. 1 para. 31 33Sch. 18 para. 42(2A) inserted by 2005 c. 7 s. 88(4)Sch. 18 para. 77A and cross-heading inserted by 2006 c. 25 Sch. 1 para. 8Sch. 18 para. 10(2B) inserted by 2006 c. 25 Sch. 3 para. 2(3)Sch. 18 Pt. 9BA inserted by 2006 c. 25 Sch. 3 para. 6Sch. 18 para. 10(4) inserted by 2006 c. 25 Sch. 5 para. 27Sch. 18 para. 52(2)(bd) inserted by 2006 c. 25 Sch. 5 para. 28(a)Sch. 18 para. 52(5)(ae) inserted by 2006 c. 25 Sch. 5 para. 28(b)Sch. 18 Pt. 9D inserted by 2006 c. 25 Sch. 5 para. 29Sch. 18 para. 10(5) inserted by 2007 c. 11 s. 58(2)Sch. 18 para. 24(6)(7) inserted by 2007 c. 11 s. 96(4)Sch. 18 para. 3(5) inserted by 2007 c. 3 Sch. 1 para. 385(2)Sch. 18 para. 20(4) inserted by 2007 c. 3 Sch. 1 para. 385(3)Sch. 18 para. 52(2A) inserted by 2008 c. 9 Sch. 25 para. 8(3)Sch. 18 para. 52(5)(af) inserted by 2008 c. 9 Sch. 25 para. 8(4)Sch. 18 para. 83ZA inserted by 2008 c. 9 Sch. 25 para. 8(5)Sch. 18 para. 21(2A) inserted by 2008 c. 9 Sch. 37 para. 8(3)Sch. 18 para. 21(5A)(5B) inserted by 2008 c. 9 Sch. 37 para. 8(6)Sch. 18 para. 62(1A) inserted by 2009 c. 10 Sch. 52 para. 15(2)Sch. 18 para. 88(8) inserted by 2009 c. 10 Sch. 52 para. 16	Sch. 18 para. 70(6)	inserted by 2010 c. 4 Sch. 1 para. 297(11)(b)	Sch. 18 Pt. 10A inserted by 2010 c. 8 Sch. 7 para. 108(2)Sch. 18 para. 22(4) inserted by 2010 c. 8 Sch. 8 para. 54(4)Sch. 18 para. 25(3) inserted by 2010 c. 8 Sch. 8 para. 321(3)Sch. 18 para. 42(4) inserted by 2010 c. 8 Sch. 8 para. 321(5)Sch. 18 para. 97A inserted by 2010 c. 8 Sch. 8 para. 321(6)Sch. 18 para. 3A inserted by 2011 c. 11 Sch. 19 para. 62Sch. 18 para. 51A(9)(10) inserted by 2013 c. 29 s. 231(3)Sch. 18 para. 52(2)(bza) inserted by 2013 c. 29 Sch. 15 para. 6(2)Sch. 18 para. 52(5)(aa) inserted by 2013 c. 29 Sch. 15 para. 6(3)(a)Sch. 18 para. 10(6)(7) inserted by 2013 c. 29 Sch. 18 para. 3(3)Sch. 18 para. 52(2)(be)(bf) inserted by 2013 c. 29 Sch. 18 para. 4(2)Sch. 18 para. 52(5)(ag)(ah) inserted by 2013 c. 29 Sch. 18 para. 4(3)(a)Sch. 18 para. 46(2A)(d) and word inserted by 2014 c. 26 s. 277(4)(b)Sch. 18 para. 52(2)(bg) inserted by 2014 c. 26 Sch. 4 para. 5(2)Sch. 18 para. 52(5)(ai) inserted by 2014 c. 26 Sch. 4 para. 5(3)(a)Sch. 18 para. 83S(d)(e) inserted by 2014 c. 26 Sch. 4 para. 6(2)Sch. 18 Pt. 9E inserted by 2015 c. 11 Sch. 2 para. 2Sch. 18 para. 40(5) inserted by 2015 c. 33 Sch. 8 para. 40Sch. 18 para. 52(2)(bh) inserted by 2016 c. 24 Sch. 8 para. 5(2)Sch. 18 para. 52(5)(aj) inserted by 2016 c. 24 Sch. 8 para. 5(3)(a)Sch. 18 para. 83S(f) inserted by 2016 c. 24 Sch. 8 para. 6(b)Sch. 18 Pt. 6 para. 51B(5) inserted by S.I. 2011/1037 art. 3(3)Sch. 18 Pt. 6 para. 51BA and cross-heading inserted by S.I. 2011/1037 art. 3(4)Sch. 18 para. 83X omitted by 2008 c. 9 Sch. 40 para. 21(f)Sch. 18 para. 83ZA(4) omitted by 2008 c. 9 Sch. 40 para. 21(f)Sch. 18 para. 83ZA(5) omitted by 2008 c. 9 Sch. 40 para. 21(f)Sch. 18 para. 25(3)(d) and word omitted by 2016 c. 24 Sch. 10 para. 3(b)Sch. 18 para. 10(2B) repealed by 2009 c. 4 Sch. 1 para. 454(3)(a) Sch. 3 Pt. 1Sch. 18 Pt. 9BA repealed by 2009 c. 4 Sch. 1 para. 454(10) Sch. 3 Pt. 1Sch. 18 Pt. 9C repealed by 2009 c. 4 Sch. 1 para. 454(11) Sch. 3 Pt. 1Sch. 18 Pt. 9A title substituted by 2006 c. 25 Sch. 3 para. 5Sch. 18 Pt. 9C title substituted by 2006 c. 25 Sch. 3 para. 9Sch. 18 Pt. 9D heading substituted by 2014 c. 26 Sch. 4 para. 6(3)Sch. 18 para. 24(7) substituted by S.I. 2008/954 art. 25(4)Sch. 18 para. 34(1)-(2A) substituted for Sch. 18 para. 34(1)(2) by 2008 c. 9 s. 119(6)Sch. 18 para. 46(2)-(2B) substituted for Sch. 18 para. 46(2) by 2008 c. 9 Sch. 39 para. 42(3)Sch. 18 para. 51-51G and cross-headings substituted for Sch. 18 para. 51 by 2009 c. 10 Sch. 52 para. 13Sch. 18 para. 57(1A)-(1C) substituted for Sch. 18 para. 57(1A) by 2012 c. 14 Sch. 15 para. 15(3)Sch. 18 para. 9(2A)(2B) substituted for Sch. 18 para. 9(2A) by 2012 c. 14 Sch. 15 para. 14(3)Sch. 18 para. 10(4) word inserted by 2014 c. 26 Sch. 4 para. 4(a)Sch. 18 para. 25(3)(b) word inserted by 2016 c. 24 Sch. 10 para. 3(a)Sch. 18 para. 46(2A) word omitted by 2014 c. 26 s. 277(4)(a)Sch. 18 para. 42(2A) words inserted by 2005 c. 22 s. 29(2)Sch. 18 para. 52(2)(bd) words inserted by 2009 c. 4 Sch. 1 para. 454(6)(a)(iv)Sch. 18 para. 51B(3) words inserted by 2013 c. 29 s. 232(3)Sch. 18 para. 42(4)(a) words inserted by 2016 c. 24 Sch. 10 para. 4(a)Sch. 18 para. 10(5) words substituted by 2009 c. 4 Sch. 1 para. 454(3)(b)(i)Sch. 18 para. 10(5) words substituted by 2009 c. 4 Sch. 1 para. 454(3)(b)(ii)	Sch. 18 para. 77A(1)	words substituted by 2010 c. 4 Sch. 1 para. 297(13)(a)	Sch. 18 para. 77A(2)(b)	words substituted by 2010 c. 4 Sch. 1 para. 297(13)(b)	Sch. 18 para. 77A(8)(a)	words substituted by 2010 c. 4 Sch. 1 para. 297(13)(c)	Sch. 18 para. 77A(8)(b)	words substituted by 2010 c. 4 Sch. 1 para. 297(13)(d)	Sch. 18 para. 77A(10)	words substituted by 2010 c. 4 Sch. 1 para. 297(13)(e)	Sch. 18 para. 8(1)(2) words substituted by 2010 c. 8 Sch. 8 para. 54(2)(a)Sch. 18 para. 8(1)(3) words substituted by 2010 c. 8 Sch. 8 para. 54(2)(b)Sch. 18 para. 42(2A) words substituted by 2010 c. 8 Sch. 8 para. 321(4)Sch. 18 Pt. 9A heading words substituted by 2013 c. 29 Sch. 15 para. 7(4)Sch. 18 para. 10(4) words substituted by 2013 c. 29 Sch. 18 para. 3(2)Sch. 18 para. 83S words substituted by 2013 c. 29 Sch. 18 para. 5(2)Sch. 18 Pt. 9D words substituted by 2013 c. 29 Sch. 18 para. 5(3)Sch. 18 para. 10(4) words substituted by 2014 c. 26 Sch. 4 para. 4(b)Sch. 18 para. 10(4) words substituted by 2016 c. 24 Sch. 8 para. 4Sch. 18 Pt. 9D heading words substituted by 2016 c. 24 Sch. 8 para. 6(a)Sch. 18 para. 77A(8) words substituted by S.I. 2009/2035 Sch. para. 38Sch. 18 Pt. 6 para. 51A(1) words substituted by S.I. 2011/1037 art. 3(2)Sch. 18 para. 41(2)-44 applied (with modifications) by S.I. 2005/3338 reg. 7Sch. 18 para. 42(4(c) and word omitted by 2016 c. 24 Sch. 10 para. 4(b)Commencement Orders yet to be applied to the Finance Act 1998Commencement 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 legislation that affects this Act into force:S.I. 2003/1900 art. 2 Sch. 1 2 commences (2003 c. 21)S.I. 2003/3142 art. 2-4 Sch. 1 2 commences (2003 c. 21)S.I. 2005/1126 art. 2 commences (2005 c. 11)S.I. 2006/3399 art. 2 commences (2006 c. 25)S.I. 2008/568 art. 2 commences (2007 c. 11)S.I. 2009/402 art. 2 commences (2008 c. 9)S.I. 2009/403 art. 2 commences (2008 c. 9)S.I. 2009/404 art. 2 commences (2008 c. 9)S.I. 2009/405 art. 2 commences (2008 c. 9)S.I. 2009/511 art. 2 commences (2008 c. 9)S.I. 2009/571 art. 2-5 commences (2008 c. 9)S.I. 2011/892 art. 2 3 Commencement Order121 Taper relief for CGT.E+W+S+N.I.(1)The following section shall be inserted after section 2 of the M1Taxation of Chargeable Gains Act 1992—
“2A Taper relief.(1)This section applies where, for any year of assessment—
Gains on disposals of business assetsGains on disposals of non-business assetsNumber of whole years in qualifying holding periodPercentage of gain chargeableNumber of whole years in qualifying holding periodPercentage of gain chargeable192.5285377.5395470490562.5585655680747.5775840870932.596510 or more2510 or more60(6)The extent to which the whole or any part of a gain on the disposal of a business or non-business asset is to be treated as represented in the excess mentioned in subsection (1) above shall be determined by treating deductions made in accordance with section 2(2)(a) and (b) as set against chargeable gains in such order as results in the largest reduction under this section of the amount charged to capital gains tax under section 2.
(2)Before Schedule 1 to the M2Taxation of Chargeable Gains Act 1992 there shall be inserted, as Schedule A1 to that Act, the Schedule set out in Schedule 20 to this Act.
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