FA02/S44, TCGA92/S192A, FA02/SCH8, TCGA92/SCH7AC & FA2011

Section 44 and Schedule 8 Finance Act 2002 introduced the substantial shareholdings exemption legislation. Subsection (1) of section 44 Finance Act 2002 inserted a new section 192A into TCGA 1992. Section 192A TCGA 1992 simply provides that Schedule 7AC TCGA 1992 has effect.

Section 44(2) Finance Act 2002 provides that Schedule 8 Finance Act 2002 has effect. That Schedule is in two Parts:

Part 1 of Schedule 8 contains paragraph 1 of that Schedule which inserted Schedule 7AC into TCGA 1992. Schedule 7AC contains the detailed rules of the substantial shareholdings exemption regime.

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