Taxation of Chargeable Gains Act 1992, section 288

Interpretation

Part VIII Supplemental

(1)In this Act, unless the context otherwise requires—

  • M63 “the 1979 Act” means the Capital Gains Tax Act 1979 ;

  • F2149 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • “allowable loss” shall be construed in accordance with sections 8(2) [F2150 , 16 [F2151 , 16A F2151] [F2152 , 261B, 261D F2152] and 263ZA F2150] ;

  • F2153 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • “the Board” means the Commissioners of Inland Revenue;

  • M64 “building society” has the same meaning as in the Building Societies Act 1986 ;

  • [F2154 “the Capital Allowances Act” means the Capital Allowances Act 2001 ; F2154]

  • “chargeable period” means a year of assessment or an accounting period of a company for purposes of corporation tax;

  • “class”, in relation to shares or securities, means a class of shares or securities of any one company;

  • “close company” [F2155 shall be construed in accordance with Chapter 2 of Part 10 of CTA 2010 (see in particular section 439) F2155][F2156 (subject to section 138ZA (6) ) F2156] ;

  • “collective investment scheme” has the [F2157 meaning given by section 235 of the Financial Services and Markets Act 2000 F2157][F2158 (subject to section 99A) F2158] ;

  • “company” includes any body corporate or unincorporated association but does not include a partnership, and shall be construed in accordance with [F2159 section 99 F2159] ;

  • “control” shall be construed in accordance with [F2160 sections 450 and 451 of CTA 2010 F2160] ;

  • [F2161 “CTA 2009” means the Corporation Tax Act 2009 ; F2161]

  • [F2162 “CTA 2010” means the Corporation Tax Act 2010 ; F2162]

  • [F2163 “disposal of a UK residential property interest” has the meaning given by Schedule B1; F2163]

  • [F2164 “double taxation relief arrangements”—

    (a)

    in relation to a company means arrangements that have effect under section 2(1) of TIOPA 2010 except so far as they have effect in relation to petroleum revenue tax, and

    (b)

    in relation to any other person means arrangements that have effect under section 2(1) of TIOPA 2010 but only so far as they have effect in relation to capital gains tax;F2164]

  • “dual resident investing company” has the meaning given by section 404 of the Taxes Act;

  • [F2165 “foreign employment election” means a claim under section 41M of ITEPA 2003; F2165]

  • [F2165 “foreign gain claim” means a claim under paragraph 1 of Schedule D1; F2165]

  • [F2165 “foreign income claim” means a claim under section 845A of ITTOIA 2005; F2165]

  • “inspector” means any inspector of taxes;

  • “investment trust” has the meaning given by [F2166 section 1158 of CTA 2010 F2166] ;

  • [F2167 “ITEPA 2003” means the Income Tax (Earnings and Pensions) Act 2003 ; F2167]

  • [F2168 “ITTOIA 2005” means the Income Tax (Trading and Other Income) Act 2005 ; F2168]

  • [F2169 “ITA 2007” means the Income Tax Act 2007 ; F2169]

  • “land” includes messuages, tenements, and hereditaments, houses and buildings of any tenure;

  • “local authority” has the meaning given by [F2170 section 999 of ITA 2007 F2170] ;

  • M65 “the Management Act” means the Taxes Management Act 1970 ;

  • [F2171 “net income” has the same meaning as in the Income Tax Acts (see section 989 of ITA 2007); F2171]

  • F2172 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • “notice” means notice in writing;

  • F2173 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • F2174 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • F2175 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • [F2163 “NRCGT return” has the meaning given by section 12ZB(2) of the Management Act; F2163]

  • [F2176 “offshore fund” has the meaning given in section 355 of TIOPA 2010 (but where two or more offshore funds make up a collective investment scheme they are to be treated as a single offshore fund subject to section 99A of this Act )); F2176]

  • [F2177 “participant”, in relation to a collective investment scheme, has the meaning given by section 103C(10); F2177]

  • [F2178 “period of account” has the meaning given by [F2179 section 989 of ITA 2007 F2179] ; F2178]

  • [F2180 “permanent establishment”, in relation to a company, is to be read in accordance with Chapter 2 of Part 24 of CTA 2010; F2180]

  • [F2181 “personal representatives” has the same meaning as in [F2182 the Corporation Tax Acts (see section 1119 of CTA 2010) F2182] ; F2181]

  • [F2183 “property investment LLP” has the meaning given by [F2184 section 1004 of ITA 2007 F2184] ; F2183]

  • [F2165 “qualifying new resident” has the meaning given by section 845B of ITTOIA 2005 (which sets out the circumstances in which an individual will be a qualifying new resident following a period of 10 years of non-residence); F2165]

  • “recognised stock exchange” has the meaning given by [F2185 section 1005 of ITA 2007 F2185] ;

  • [F2186 “registered pension scheme” has the meaning given by section 150(2) of the Finance Act 2004 ; F2186]

  • [F2187 “Registrar of Government Stock” means the person or persons appointed in accordance with regulations under section 47(1)(b) of the Finance Act 1942 (see regulation 3 of the Government Stock Regulations 2004 ); F2187]

  • F2188 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • [F2189 “resident” means resident in accordance with the statutory residence test in Part 1 of Schedule 45 to the Finance Act 2013 ; F2189]

  • “shares” includes stock;

  • [F2190 “split year”, as respects an individual, means a tax year that, as respects that individual, is a split year within the meaning of Part 3 of Schedule 45 to the Finance Act 2013 (statutory residence test: split year treatment); F2190]

  • [F2191 “stepchild”, in relation to a civil partner, shall be construed in accordance with section 246 of the Civil Partnership Act 2004 ; F2191]

  • M66 “the Taxes Act” means the Income and Corporation Taxes Act 1988 ;

  • [F2192 “TIOPA 2010” means the Taxation (International and Other Provisions) Act 2010 ; F2192]

  • “trade” has the same meaning as in the Income Tax Acts;

  • “trading stock” has the meaning given by [F2193 section 163 of CTA 2009 F2193] ;

  • [F2194 “the tribunal” means the First-tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal; F2194]

  • [F2195 “UK property business” means—

    (a)

    a UK property business within the meaning of the Income Tax Acts (see section 989 of ITA 2007), or

    (b)

    a UK property business within the meaning of the [F2196 Corporation Tax Acts (see section 1119 of CTA 2010)F2196] ;F2195]

  • [F2197 “venture capital trust” has [F2198 the same meaning as in Part 6 of ITA 2007 F2198] ; F2197]

  • “wasting asset” has the meaning given by section 44 and paragraph 1 of Schedule 8;

  • [F2199 “year of assessment” means tax year; F2199]

and any reference to a particular section, Part or Schedule is a reference to that section or Part of, or that Schedule to, this Act.

[F2200 (1ZA) In this Act and other enactments relating to capital gains tax “tax year” means a year beginning on 6 April and ending on the following 5 April; and “the tax year 2008-09” means the tax year beginning on 6 April 2008 (and any corresponding expression in which two years are similarly mentioned is to be read in the same way). F2200]

[F2201 (1ZB) A reference in this Act to “the overseas part” or “the UK part” of a split year is to be read in accordance with Part 3 of Schedule 45 to the Finance Act 2013 (statutory residence test: split year treatment). F2201]

[F2202 (1A)If any employment-related securities option would not otherwise be regarded as an option for the purposes of this Act, it shall be so regarded; and the acquisition of securities by an associated person pursuant to an employment-related securities option is to be treated for the purposes of this Act as the exercise of the option.

[F2203 In this subsection “employment-related securities option” means a securities option within the meaning of Chapter 5 of Part 7 of ITEPA 2003 (see section 420(8) of that Act ) to which that Chapter applies F2204 ... (see section 471 of that Act ); and other expressions used in this subsection and that Chapter have the same meaning in this subsection as in that Chapter. F2203,F2202]]

(2) In this Act “retail prices index” has the same meaning as in the Income Tax Acts and, accordingly, any reference in this Act to the retail prices index shall be construed in accordance with [F2205 section 989 of ITA 2007 F2205] .

[F2206 (2A) In this Act “consumer prices index” means the all items consumer prices index published by the Statistics Board. F2206]

(3)References in this Act to [F2207an individual living with his spouse or civil partnerF2207][F2208 (however expressed)F2208] shall be construed in accordance with [F2209section 1011 of ITA 2007F2209] .

[F2210 (3A) For the purposes of this Act, the following are “the no gain/no loss provisions”—

(a)sections 58, 73, 139, 140A, 140E, 171, 211, [F2211 211B,F2211] 215, 216, 217A, [F2212 217D,F2212] 218 to [F2213 220F2213] , 257(3), 258(4), 264 and 267(2) of this Act;

(b)section 148 of the 1979 Act;

(c)section 148 of the Finance Act 1982;

(d)section 130(3) of the Transport Act 1985;

F2214 (e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(f)paragraph 2(1) of Schedule 7 to the Broadcasting Act 1996;

(g)paragraphs 3 and 9 of Schedule 26 to the Transport Act 2000;

(h)paragraphs 3, 18, 29 and 32 of Schedule 9 to the Energy Act 2004;

(i)paragraph 9 of Schedule 4 to the Consumers, Estate Agents and Redress Act 2007;

[F2215 (j)Schedule 7 to the Housing and Regeneration Act 2008;F2215]

[F2216 (k)paragraph 4 of Schedule 4 to the Budget Responsibility and National Audit Act 2011;F2216]

[F2217 (l)paragraph 1(2) or 4 of Schedule 2 to the Postal Services Act 2011;F2217]

[F2218 (m)paragraph 6(1) of Schedule 24 to the Localism Act 2011.F2218,F2210]]

F2219 (4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)For the purposes of this Act, shares or debentures comprised in any letter of allotment or similar instrument shall be treated as issued unless the right to the shares or debentures thereby conferred remains provisional until accepted and there has been no acceptance.

[F2220 (5A)References in this Act to shares or securities which are listed on a recognised stock exchange shall be construed in accordance with subsections (3) and (4) of section 1005 of ITA 2007.

(5B)References in this Act to shares or securities which are included in the official UK list shall be construed in accordance with subsection (5) of that section.F2220]

(6) In this Act “recognised futures exchange” means the London International Financial Futures Exchange and any other futures exchange which is for the time being designated for the purposes of this Act by order made by the Board.

(7)An order made by the Board under subsection (6) above—

(a)may designate a futures exchange by name or by reference to any class or description of futures exchanges, including, in the case of futures exchanges in a country outside the United Kingdom, a class or description framed by reference to any authority or approval given in that country; and

(b)may contain such transitional and other supplemental provisions as appear to the Board to be necessary or expedient.

[F2221 (7A) In the application of this Act to Scotland “surrender” includes renunciation. F2221]

[F2222 (7B)For the purposes of this Act, a person is Treaty non-resident at any time if, at that time, he falls to be regarded as resident in a territory outside the United Kingdom for the purposes of double taxation relief arrangements having effect at that time.F2222]

(8)The Table below indexes other general definitions in this Act.

Expression defined Reference
“Absolutely entitled as against the trustee" S.60(2)
[F2223 Authorised contractual scheme [F2224 s 103D(2)F2224,F2223]]
[F2225 “Authorised corporate director” S.272(5AB) (as that provision is inserted by regulation 22(b) of the Open-ended Investment Companies (Tax) Regulations 1997)F2225]
“Authorised unit trust" S.99
“Branch or agency"[F2226 s 1B(5)F2226]
“Chargeable gain" S.15(2)
“Connected", in references to persons being connected with one another S.286
[F2223 Co-ownership scheme [F2224 s 103D(2)F2224,F2223]]
“Court investment fund" S.100
“Gilt-edged securities" Sch.9
“Indexation allowance" S.53
“Lease" and cognate expressions Sch.8 para.10(1)
“Legatee" S.64(2),(3)
“Market value" S.272 to 274 and Sch.11
[F2227 “Open-ended investment company” S.99 (as that section is modified by regulation 20 of the Open-ended Investment Companies (Tax) Regulations 1997)F2227]
“Part disposal" S.21(2)
[F2228 “Principal settlement” Sch.4ZA para. 1F2228]
“Qualifying corporate bond" S.117
“Relevant allowable expenditure" S.53
[F2229 “Reserved Investor Fund (Contractual Scheme)” s 103D(2)F2229]
F2230 . . .F2230 . . .
“Settled property" S.68
[F2228 “Settlor” S.68AF2228]
[F2228 “Settlor of property” S.68AF2228]
[F2228 “Sub-fund” Sch.4ZA para. 1F2228]
[F2228 “Sub-fund election” Sch.4ZA para. 2F2228]
[F2228 “Sub-fund settlement” Sch.4ZA para. 1F2228]
“Unit trust scheme" [F2231and “unit holder”F2231] [F2232 ss 99[F2233 , 99A and 151W(a)F2233,F2232]]

Definitions used in section 288 33

company

(5) In this paragraph “company” and “group” shall be construed in accordance with section 170(2) to (9).

Defined in Sch.2 para.5(5) · see it in the full Act
tax

and for the purposes of this definition “tax” means capital gains tax, corporation tax or income tax.

Defined in s.16A(2) · see it in the full Act
the shares

(5) In sub-paragraphs (3) and (4) and in the following provisions of this Schedule references to “the shares” are to the shares referred to in sub-paragraph (1)(a).

Defined in Sch.7ZB para.1(5) · see it in the full Act

(a) references to “the shares” shall be construed in accordance with sub-paragraph (1) above, and

Defined in Sch.5B para.13(12) · see it in the full Act
shares

(5) In this paragraph, except in paragraphs (a) to (c) of sub-paragraph (6), “shares” includes an interest in shares.

Defined in Sch.7AC para.10(5) · see it in the full Act

(b) “shares” includes securities,

Defined in Sch.7 para.4(2) · see it in the full Act
securities

(6) In sub-paragraph (4)(d) “securities” has the same meaning as in section 132.

Defined in Sch.4B para.12(6) · see it in the full Act

(2) In sub-paragraph (1)(a) “securities” has the same meaning as in section 132.

Defined in Sch.4B para.7(2) · see it in the full Act
arrangements

“arrangements” includes any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable), and

Defined in s.16A(2) · see it in the full Act
building

“building” includes part of a building and references to a building may include references to land occupied therewith and used for the same purposes;

Defined in Sch.2 para.15 · see it in the full Act
income

(6) Sub-paragraphs (4) and (5) above apply for the purposes of paragraph (b) of sub-paragraph (1) above as they apply for the purposes of paragraph (a), reading “income” for “property".

Defined in Sch.5 para.2(6) · see it in the full Act
the individual

13C (1) The receipt of the replacement value by the original supplier shall be disregarded for the purposes of paragraph 13B above, as it applies in relation to the shares, to the extent to which that receipt has previously been set (under that paragraph) against any receipts of value which are, in consequence, disregarded for the purposes of paragraph 13 above as that paragraph applies in relation to those shares or any other shares subscribed for by the individual in question (“the individual”).

Defined in Sch.5B para.13C(1) · see it in the full Act
the residents

(b) if 2 or more of them are then resident ... in the United Kingdom (“the residents”) it shall be treated as being as many equal capital payments as there are residents and each of them shall be treated as receiving one of the payments.

Defined in s.96(4) · see it in the full Act
enactment

(2) In section 257PE(2) of ITA 2007 (power to make consequential amendments etc when amending provision about claims for SI relief) “enactment” includes (in particular) sub-paragraph (1).

Defined in Sch.8B para.8(2) · see it in the full Act
the option

(a) a share option (“the option”) has been granted to an individual—

(i) in accordance with the provisions of a Schedule 4 CSOP scheme, and

(ii) by reason of the individual’s office or employment as a director or employee of a company, and

(b) shares (“the relevant shares”) are acquired by the exercise of the option.

Defined in Sch.7D para.11(3) · see it in the full Act
trustee

(7A) In this section, sections 86A to 96 and Schedule 4C “trustee”, in relation to a settlement in relation to which there would be no trustees apart from this subsection, means any person in whom the settled property or its management is for the time being vested (and a person who is treated as a trustee of the settlement by virtue of this subsection shall be treated as a trustee of the settlement for the purposes of section 69).

Defined in s.97(7A) · see it in the full Act

(b) “trustee”, in relation to a settlement in relation to which there would be no trustees apart from this paragraph, means any person in whom the settled property or its management is for the time being vested.

Defined in s.286(3ZA) · see it in the full Act
authorised contractual scheme

“authorised contractual scheme” has the meaning given by section 237(3) of the Financial Services and Markets Act 2000 , ...

Defined in s.103D(2) · see it in the full Act
branch or agency

(5) In this Act, unless the context otherwise requires, “branch or agency”—

(a)means any factorship, agency, receivership, branch or management, but

(b)does not include any person within any of the exemptions under sections 835G to 835K of ITA 2007 (persons who are not UK representatives).

Defined in s.1B(5) · see it in the full Act
connected

(4) Section 1122 of CTA 2010 (meaning of “connected” persons) applies for the purposes of sub-paragraph (1A)(a).

Defined in Sch.7AC para.19(4) · see it in the full Act
co-ownership scheme

“co-ownership scheme” has the meaning given by section 235A of that Act , and

Defined in s.103D(2) · see it in the full Act
court investment fund

(3) In this Act “court investment fund” means a fund established under section 42 of the Administration of Justice Act 1982 .

Defined in s.100(3) · see it in the full Act
gilt-edged securities

1 For the purposes of this Act “gilt-edged securities” means the securities specified in Part II of this Schedule, and such stocks and bonds issued under section 12 of the National Loans Act 1968 [1968 c. 13.] , denominated in sterling and issued after 15th April 1969, as may be specified by order made by the Treasury.

Defined in Sch.9 para.1 · see it in the full Act
lease

10 (1) In this Act, unless the context otherwise requires “lease” —

(a) in relation to land, includes an underlease, sublease or any tenancy or licence, and any agreement for a lease, underlease, sublease or tenancy or licence and, in the case of land outside the United Kingdom, any interest corresponding to a lease as so defined,

(b) in relation to any description of property other than land, means any kind of agreement or arrangement under which payments are made for the use of, or otherwise in respect of, property,

Defined in Sch.8 para.10(1) · see it in the full Act
market value

(5AA) In this Act “market value” in relation to shares of a given class in an open-ended investment company the prices of which are published regularly by the authorised corporate director of that company (whether or not those shares are also quoted in The Stock Exchange Daily Official List) shall mean an amount equal to the price so published on the relevant date, or if no price was published on that date, on the latest date before that date.

Defined in s.272(5AA) · see it in the full Act

(5) In this Act “market value” in relation to any rights of unit holders in any unit trust scheme the buying and selling prices of which are published regularly by the managers of the scheme shall mean an amount equal to the buying price (that is the lower price) so published on the relevant date, or if none were published on that date, on the latest date before.

Defined in s.272(5) · see it in the full Act

(1) In this Act “market value” in relation to any assets means the price which those assets might reasonably be expected to fetch on a sale in the open market.

Defined in s.272(1) · see it in the full Act

(4) In particular, for the purposes of paragraphs 5 and 7 of this Schedule “market value” has the meaning given by paragraph 92 of Schedule 2 to that Act (determination of market value); and Part 8 of this Act has effect subject to this paragraph.

Defined in Sch.7D para.1(4) · see it in the full Act
principal settlement

1 The trustees of a settlement (the “principal settlement”) may elect that a fund or other specified portion of the settled property (the “sub-fund”) be treated, unless the context otherwise requires, as a separate settlement (the “sub-fund settlement”) for the purposes of this Act, and the election shall have effect.

Defined in Sch.4ZA para.1 · see it in the full Act
the principal settlement

(a) applies if the trustees of a settlement (“the principal settlement”) have made an election under paragraph 1 of Schedule 4ZA the effect of which is that one or more other settlements (“sub-fund settlements”) are treated as created, and

Defined in Sch.1C para.8(1) · see it in the full Act
qualifying

(a) is a “qualifying” corporate bond if it is issued after 13th March 1984; and

Defined in s.117(7) · see it in the full Act
relevant allowable expenditure

(b) “relevant allowable expenditure” means, subject to subsection (3) below, any sum which, in the computation of the unindexed gain was taken into account by virtue of paragraph (a) or paragraph (b) of section 38(1).

Defined in s.53(2) · see it in the full Act
Reserved Investor Fund (Contractual Scheme)

“Reserved Investor Fund (Contractual Scheme)” has the meaning given by section 20 of the Finance (No.2) Act 2024 .

Defined in s.103D(2) · see it in the full Act
settled property

“settled property” and references (however expressed) to property comprised in a settlement shall be construed accordingly .

Defined in s.97(7) · see it in the full Act

In this Act, unless the context otherwise requires, “settled property” means any property held in trust other than property to which section 60 applies (and references, however expressed, to property comprised in a settlement are references to settled property) .

Defined in s.68 · see it in the full Act
settlor

12 The provisions of paragraphs 7 and 8(1), (3), (6) and (7) of Schedule 5 (meaning of “settlor”) apply for the purposes of this Schedule as they apply for the purposes of section 86 .

Defined in Sch.4A para.12 · see it in the full Act
property

(6) Sub-paragraphs (4) and (5) above apply for the purposes of paragraph (b) of sub-paragraph (1) above as they apply for the purposes of paragraph (a), reading “income” for “property".

Defined in Sch.5 para.2(6) · see it in the full Act

(a) the reference to “assets” were a reference to “property”, and

Defined in Sch.4ZA para.22(2) · see it in the full Act
sub-fund

1 The trustees of a settlement (the “principal settlement”) may elect that a fund or other specified portion of the settled property (the “sub-fund”) be treated, unless the context otherwise requires, as a separate settlement (the “sub-fund settlement”) for the purposes of this Act, and the election shall have effect.

Defined in Sch.4ZA para.1 · see it in the full Act
sub-fund election

2 (1) An election under paragraph 1 (a “sub-fund election”) must specify the date on which it is to be treated as having taken effect, which must not be later than the date on which it is made.

Defined in Sch.4ZA para.2(1) · see it in the full Act
sub-fund settlements

(a) applies if the trustees of a settlement (“the principal settlement”) have made an election under paragraph 1 of Schedule 4ZA the effect of which is that one or more other settlements (“sub-fund settlements”) are treated as created, and

Defined in Sch.1C para.8(1) · see it in the full Act
sub-fund settlement

1 The trustees of a settlement (the “principal settlement”) may elect that a fund or other specified portion of the settled property (the “sub-fund”) be treated, unless the context otherwise requires, as a separate settlement (the “sub-fund settlement”) for the purposes of this Act, and the election shall have effect.

Defined in Sch.4ZA para.1 · see it in the full Act

Cases considering section 288 6

Kellogg Brown & Root Holdings (UK) Ltd v HM Revenue and Customs

[2010] EWCA Civ 118 · 24 February 2010

Imports the section 416 meaning of control into section 286. The court used that cross-reference to give “control” its ordinary and broad meaning in the connected-person provision. (see paras [10], [33]–[35], [44])

William Reeves v The Commissioners for HMRC

[2018] UKUT 293 (TCC) · 26 September 2018Interprets

The words “unless the context otherwise requires” permit partial modification of the imported statutory definition of control. In the context of section 167(2), they require exclusion of inappropriate associate attribution while retaining relevant aspects of section 416 (see paras [65]-[78]; [89]-[96]).

Brian George Foulser & Anor v MacDougall (Officer of HM Revenue & Customs)

[2007] EWCA Civ 8 · 17 January 2007Defines

Provides that control for section 286 purposes is construed by reference to section 416 of the <span class="legis">Income and Corporation Taxes Act 1988</span>. (see para [10])

What each judgment says about section 288 is in the case-law panel in the full Act.

Amendments and notes

91 notes from legislation.gov.uk

Amendments

  1. F2149Words in s. 288(1) repealed (22.3.2001) by Capital Allowances Act 2001 (c. 2), Sch. 2 para. 80, Sch. 4
  2. F2150Words in s. 288(1) substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 219(2) (with Sch. 7)
  3. F2151Word in s. 288(1) inserted (with effect in accordance with s. 27(6) of the amending Act) by Finance Act 2007 (c. 11), s. 27(4)
  4. F2152Words in s. 288(1) inserted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(a) (with Sch. 2)
  5. F2153Words in s. 288(1) omitted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 1 para. 87(2)(a)
  6. F2154Words in s. 288(1) inserted (22.3.2001) by Capital Allowances Act 2001 (c. 2), Sch. 2 para. 80
  7. F2155Words in s. 288(1) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(2)(a) (with Sch. 2)
  8. F2156Words in s. 288 inserted (with effect in accordance with s. 36(4) of the amending Act) by Finance (No. 2) Act 2023 (c. 30), s. 36(3)
  9. F2157Words in s. 288(1) substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001 (S.I. 2001/3629), arts. 1(2)(a), 70
  10. F2158Words in s. 288(1) inserted (with effect in accordance with s. 118(5) of the amending Act) by Finance Act 2004 (c. 12), s. 118(4)(a)
  11. F2159Words in s. 288(1) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Collective Investment Schemes and Offshore Funds (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2017 (S.I. 2017/1204), regs. 1(1), 10(a)
  12. F2160Words in s. 288(1) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(2)(b) (with Sch. 2)
  13. F2161Words in s. 288(1) inserted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 385(a) (with Sch. 2 Pts. 1, 2)
  14. F2162Words in s. 288(1) inserted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(2)(g) (with Sch. 2)
  15. F2163Words in s. 288(1) inserted (with effect in accordance with Sch. 7 para. 60 of the amending Act) by Finance Act 2015 (c. 11), Sch. 7 para. 34
  16. F2164Words in s. 288(1) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 47 (with Sch. 9 paras. 1-9, 22)
  17. F2165Words in s. 288(1) inserted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 39(7)(11)
  18. F2166Words in s. 288(1) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(2)(c) (with Sch. 2)
  19. F2167Words in s. 288(1) inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 219(3) (with Sch. 7)
  20. F2168Words in s. 288(1) inserted (with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 447(2) (with Sch. 2)
  21. F2169Words in s. 288(1) inserted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(b) (with Sch. 2)
  22. F2170Words in s. 288(1) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(c) (with Sch. 2)
  23. F2171Words in s. 288(1) inserted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(d) (with Sch. 2)
  24. F2172Words in s. 288(1) omitted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 1 para. 87(2)(b)
  25. F2173Words in s. 288(1) omitted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 1 para. 87(2)(c)
  26. F2174Words in s. 288(1) omitted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 1 para. 87(2)(d)
  27. F2175Words in s. 288(1) omitted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 1 para. 87(2)(e)
  28. F2176Words in s. 288(1) inserted (8.6.2013) by The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations 2013 (S.I. 2013/1400), regs. 1(1), 12 (with reg. 1(2))
  29. F2177Words in s. 288(1) inserted (8.6.2013) by The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations 2013 (S.I. 2013/1400), regs. 1(1), 7(a) (with reg. 1(2))
  30. F2178Words in s. 288(1) inserted (with effect in accordance with s. 103(6) of the amending Act) by Finance Act 2002 (c. 23), s. 103(3)
  31. F2179Words in s. 288(1) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(e) (with Sch. 2)
  32. F2180Words in s. 288(1) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(2)(d) (with Sch. 2)
  33. F2181Words in s. 288(1) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 385(b) (with Sch. 2 Pts. 1, 2)
  34. F2182Words in s. 288(1) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(2)(e) (with Sch. 2)
  35. F2183Words in s. 288(1) inserted (with effect in accordance with s. 76(1) of the amending Act) by Finance Act 2001 (c. 9), s. 76(2), Sch. 25 para. 1(3) (with Sch. 3)
  36. F2184Words in s. 288(1) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(f) (with Sch. 2)
  37. F2185Words in s. 288(1) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(g) (with Sch. 2)
  38. F2186Words in s. 288(1) inserted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 41 (with Sch. 36)
  39. F2187Words in s. 288(1) inserted (15.11.2004) by The Government Stock (Consequential and Transitional Provision) (No.3) Order 2004 (S.I. 2004/2744), art. 1, Sch. para. 3(3) (with art. 3)
  40. F2188Words in s. 288(1) omitted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 1 para. 87(2)(f)
  41. F2189Words in s. 288(1) inserted (17.7.2013) by Finance Act 2013 (c. 29), Sch. 45 para. 148(3)(a)
  42. F2190Words in s. 288(1) inserted (with effect in accordance with Sch. 45 para. 153(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 45 para. 104(2)
  43. F2191Words in s. 288(1) inserted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 122(a)
  44. F2192Words in s. 288(1) inserted (18.3.2010) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(2)(c), Sch. 8 para. 319 (with Sch. 9 paras. 1-9, 22)
  45. F2193Words in s. 288(1) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 385(c) (with Sch. 2 Pts. 1, 2)
  46. F2194Words in s. 288(1) inserted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 184
  47. F2195Words in s. 288(1) inserted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 385(d) (with Sch. 2 Pts. 1, 2)
  48. F2196Words in s. 288(1) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(2)(f) (with Sch. 2)
  49. F2197Words in s. 288(1) inserted (with effect in accordance with s. 72(8) of the amending Act) by Finance Act 1995 (c. 4), s. 72(7)
  50. F2198Words in s. 288(1) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(2)(h) (with Sch. 2)
  51. F2199Words in s. 288(1) substituted (21.7.2008) by Finance Act 2008 (c. 9), Sch. 2 para. 101(2)
  52. F2200S. 288(1ZA) inserted (21.7.2008) by Finance Act 2008 (c. 9), Sch. 2 para. 101(3)
  53. F2201S. 288(1ZB) inserted (with effect in accordance with Sch. 45 para. 153(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 45 para. 104(3)
  54. F2202S. 288(1A) inserted (with effect in accordance with Sch. 22 para. 54(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 54(1)
  55. F2203Words in s. 288(1A) substituted (with effect in accordance with Sch. 5 para. 6(2) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), Sch. 5 para. 5(2)
  56. F2204Words in s. 288(1A) omitted (with effect in accordance with Sch. 9 para. 48 of the amending Act) by virtue of Finance Act 2014 (c. 26), Sch. 9 paras. 28, 47
  57. F2205Words in s. 288(2) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(3) (with Sch. 2)
  58. F2206S. 288(2A) inserted (with effect for the tax year 2013-14 and subsequent tax years in accordance with s. 34(7) of the amending Act) by Finance Act 2012 (c. 14), s. 34(4)
  59. F2207Words in s. 288(3) substituted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 122(b)
  60. F2208Words in s. 288 inserted (6.4.2023 in relation to disposals made on or after that date) by Finance (No. 2) Act 2023 (c. 30), s. 41(5)(6)
  61. F2209Words in s. 288(3) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 342(4) (with Sch. 2)
  62. F2210S. 288(3A) inserted (with effect in accordance with Sch. 2 para. 71 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 63
  63. F2211Word in s. 288(3A)(a) inserted (8.6.2013) by The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations 2013 (S.I. 2013/1400), regs. 1(1), 7(b) (with reg. 1(2))
  64. F2212Words in s. 288(3A)(a) inserted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(3)(a) (with Sch. 2)
  65. F2213Word in s. 288(3A)(a) substituted (with effect in accordance with Sch. 39 para. 18(2) of the amending Act) by Finance Act 2012 (c. 14), Sch. 39 para. 17(a)
  66. F2214S. 288(3A)(e) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 264(3)(b), Sch. 3 Pt. 1 (with Sch. 2)
  67. F2215S. 288(3A)(j) inserted (E.W.) (1.12.2008) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008 (S.I. 2008/3002), art. 1(2), Sch. 1 para. 43 (with Sch. 2); S.I. 2008/3068, art. 2(1)(b)
  68. F2216S. 288(3A)(k) inserted (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 5 para. 16; S.I. 2011/2576, art. 5
  69. F2217S. 288(3A)(l) inserted (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 12 para. 145; S.I. 2011/2329, art. 3
  70. F2218S. 288(3A)(m) inserted (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), s. 240(5)(o), Sch. 24 para. 6(3); S.I. 2012/628, art. 3(b) text inserted for certain specified purposes only, see the commentary.
  71. F2219S. 288(4) repealed (with effect in accordance with Sch. 41 Pt. VIII(3) of the amending Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. VIII(3)
  72. F2220S. 288(5A)(5B) inserted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 26 para. 3
  73. F2221S. 288(7A) inserted (with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 447(3) (with Sch. 2)
  74. F2222S. 288(7B) inserted (with effect in accordance with s. 74(6) of the amending Act) by Finance Act 2006 (c. 25), s. 74(3)
  75. F2223Words in s. 288(8) inserted (8.6.2013) by The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations 2013 (S.I. 2013/1400), regs. 1(1), 7(c) (with reg. 1(2))
  76. F2224Word in s. 288(8) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Collective Investment Schemes and Offshore Funds (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2017 (S.I. 2017/1204), regs. 1(1), 10(b)
  77. F2225Words in s. 288(8) inserted (28.4.1997) by The Open-ended Investment Companies (Tax) Regulations 1997 (S.I. 1997/1154), regs. 1(1), 23(a)
  78. F2226Words in s. 288(8) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 87(3)
  79. F2227Words in s. 288(8) inserted (28.4.1997) by The Open-ended Investment Companies (Tax) Regulations 1997 (S.I. 1997/1154), regs. 1(1), 23(b)
  80. F2228Words in s. 288(8) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), Sch. 12 para. 26(1)(2)
  81. F2229Words in s. 288(8) Table inserted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 52(8) (with reg. 63)
  82. F2230Words in s. 288(8) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 45 para. 148(3)(b)
  83. F2231Words in s. 288(8) inserted (with effect in accordance with s. 118(5) of the amending Act) by Finance Act 2004 (c. 12), s. 118(4)(b)(i)
  84. F2232Words in s. 288(8) substituted (with effect in accordance with s. 118(5) of the amending Act) by Finance Act 2004 (c. 12), s. 118(4)(b)(ii)
  85. F2233Words in s. 288(8) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 202 (with Sch. 9 paras. 1-9, 22)

Modifications

  1. C445S. 288(3A) extended (1.1.2010) by The Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 3(2)
  2. C446S. 288(3A) extended (30.9.2013) by The BRB (Residuary) Limited (Tax Consequences) Order 2013 (S.I. 2013/2242), arts. 1, 3(a)(ii)

Marginal citations

  1. M631979 c. 14.
  2. M641986 c. 53.
  3. M651970 c. 9.
  4. M661988 c. 1.