Finance Act 1998 (c. 36) (c. 36)

SCHEDULE 27 continued PART III continued (29)

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(29) Chargeable gains: applicable rate

Chapter	Short title	Extent of repeal
1992 c. 12.	The Taxation of Chargeable Gains Act 1992.	In section 4(1), the words “and section 5”.
		Section 5.
1993 c. 34.	The Finance Act 1993.	In Schedule 6, paragraph 23.

These repeals have effect in accordance with section 120(2) of this Act.

(30) Chargeable gains: offshore settlements

Chapter	Short title	Extent of repeal
1992 c. 12.	The Taxation of Chargeable Gains Act 1992.	In section 87(1), the words from “if the settlor” to the end of the subsection.
		In section 88(1), paragraph (c) and the word “and” immediately preceding it.
		In Schedule 5, paragraph 9(2) and (8).

1 The repeals in sections 87 and 88 of the Taxation of Chargeable Gains Act 1992 have effect in accordance with section 130 of this Act.

2 The repeal of paragraph 9(2) of Schedule 5 to that Act has effect in accordance with section 132(2) of this Act.

3 The repeal of paragraph 9(8) of that Schedule has effect in accordance with section 131(4) of this Act.

(31) Retirement relief

Chapter	Short title	Extent of repeal
1992 c. 12.	The Taxation of Chargeable Gains Act 1992.	Sections 163 and 164.
		In section 165, in subsection (3), paragraphs (a) and (b) and, in subsection (6), the words “and (in appropriate cases) Schedule 6”.
		In section 241(3), the words “and Schedule 6”.
		In section 260(5), the words from “or, if part of the gain” to the end.
		Schedule 6.
		In Schedule 7, paragraph 8.
1993 c. 34.	The Finance Act 1993.	In Schedule 7, paragraphs 1(2) and 2.
1994 c. 9.	The Finance Act 1994.	Section 92.
1996 c. 8.	The Finance Act 1996.	Section 176.
		In Schedule 20, paragraph 66.
		In Schedule 21, paragraph 44.
		In Schedule 39, paragraph 7.

The above repeals have effect in relation to disposals in the year 2003-04 and subsequent years of assessment.

(32) Abolition of certain CGT reliefs

Chapter	Short title	Extent of repeal
1992 c. 12.	The Taxation of Chargeable Gains Act 1992.	In Part V, Chapter IA.
		Sections 254 and 255.

1 The repeal of Chapter IA of Part V of the Taxation of Chargeable Gains Act 1992 has effect in relation to acquisitions made on or after 6th April 1998.

2 The other repeals have effect in relation to loans made on or after 17th March 1998.

Part IV Inheritance tax

Chapter	Short title	Extent of repeal
1984 c. 51.	The Inheritance Tax Act 1984.	Section 26.
		In section 76— (a) paragraph (d) of subsection (1) and the word “or” immediately preceding it; and (b) subsection (2).
1986 c. 41.	The Finance Act 1986.	Section 102(5)(g).
1992 c. 12.	The Taxation of Chargeable Gains Act 1992.	Section 258(1).
		Section 260(2)(b)(ii).

1 The repeal of section 26 of the Inheritance Tax Act 1984 has effect in accordance with section 143(1) of this Act and the repeals in section 76 of that Act have effect in accordance with section 143(5) of this Act.

2 The other repeals have effect in relation to any disposal on or after 17th March 1998.

Part V Other taxes

(1) Insurance premium tax

Chapter	Short title	Extent of repeal
1994 c. 9.	The Finance Act 1994.	In section 52A(9), the definition of “tour operator” and “travel agent”.

This repeal has effect in accordance with section 147 of this Act.

(2) Stamp duty

Chapter	Short title	Extent of repeal
1920 c. 67.	The Government of Ireland Act 1920.	Section 29.

(3) Abolition of gas levy

Chapter	Short title	Extent of repeal
1981 c. 3.	The Gas Levy Act 1981.	The whole Act.
1986 c. 44.	The Gas Act 1986.	In section 60— (a) in subsection (1), paragraph (b) and the word “and” immediately preceding it; and (b) subsection (4).
		Schedule 6.
1990 c. 29.	The Finance Act 1990.	Section 123.
1992 c. 48.	The Finance (No. 2) Act 1992.	Section 78.
1993 c. 34.	The Finance Act 1993.	Section 209.
1995 c. 45.	The Gas Act 1995.	In Schedule 5, in paragraph 11, sub-paragraph (b) and the word “and” immediately preceding it.

1 Subject to note 2 below, these repeals do not have effect in relation to gas levy for the year 1997-98 or any previous year.

2 The repeal of section 209(3) of the Finance Act 1993 does not affect any case in which the cessation of liability to gas levy was before the end of the year 1997-98.

(4) Dumping and subsidies

Chapter	Short title	Extent of repeal
1969 c. 16.	The Customs Duties (Dumping and Subsidies) Act 1969.	The whole Act.
1978 c. 42.	The Finance Act 1978.	In section 6, subsections (5), (6), (7) and (9).
		Schedule 1.
		In Schedule 12, paragraph 26.
1979 c. 2.	The Customs and Excise Management Act 1979.	In paragraph 12 of Schedule 4, in Part I of the Table, the entries for the Customs Duties (Dumping and Subsidies) Act 1969.

Part VI Miscellaneous

(1) Treasury bills

Chapter	Short title	Extent of repeal
1992 c. 48.	The Finance (No. 2) Act 1992.	Section 79.

This repeal has effect in accordance with section 159 of this Act.

(2) Securities

Chapter	Short title	Extent of repeal
1993 c. 34.	The Finance Act 1993.	Section 211.

This repeal has effect in accordance with an order made under paragraph 3 of Schedule 26 to this Act.

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