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CHARGEABLE ACT OR EVENT CONSTITUTING TAXABLE DISPOSAL |
| Cases in which chargeable act or event constitutes taxable disposal |
| 5 |
1. For the purposes of this Schedule a disposition falling within Case A, Case B, Case E or Case F shall be taken to constitute a taxable disposal if— |
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(a) for the purposes of Part III of the Finance Act 1965 it constitutes a disposal of an asset on which chargeable gains accrue to a person, or would so have accrued if the assumed tax condition had been fulfilled in relation to that disposal, or |
| 10 |
(b) for the purposes of that Part of that Act as applied to corporation tax by Part IV of that Act it constitutes a disposal of an asset on which chargeable gains accrue to a company, or would so have accrued if the assumed tax condition had been fulfilled in relation to that disposal. |
| 15 |
2. For the purposes of this Schedule the accrual of a right to compensation falling within Case D or Case F shall be taken to constitute a taxable disposal if— |
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(a) for the purposes of Part III of the Finance Act 1965 the receipt of compensation in pursuance of that right constitutes a disposal of an asset on which chargeable gains accrue to a person, or would so have accrued if the assumed tax condition had been fulfilled in relation to that disposal, or |
| 20 |
(b) for the purposes of that Part of that Act as applied to corporation tax by Part IV of that Act the receipt of that compensation constitutes a disposal of an asset on which chargeable gains accrue to a company, or would so have accrued if the assumed tax condition had been fulfilled in relation to that disposal. |
| Chargeable act or event fulfilling relevant conditions as to Schedule 5 |
| 25 |
3. For the purposes of this Schedule a chargeable act or event shall be taken to fulfil the relevant conditions as to Schedule 5 if, for the purpose of assessing levy in respect of it,— |
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(a) the last relevant disposition was a disposition falling within the antecedent period, and |
| 30 |
(b) paragraph 7 or (in Case B) paragraph 16 of Schedule 5 to this Act has effect. |
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4. For the purposes of this Schedule a chargeable act or event to which the last preceding paragraph does not apply shall be taken to fulfil the relevant conditions as to Schedule 5 if, for the purpose of assessing levy in respect of it,— |
| 35 |
(a) a disposition would have been the last relevant disposition, and would have been a disposition falling within the antecedent period, and |
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(b) paragraph 7 or (in Case B) paragraph 16 of Schedule 5 to this Act would have had effect, |
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if the antecedent period had extended to the first appointed day. |
| 40 |
5. For the purposes of this Schedule a chargeable act or event shall be taken to fulfil the relevant conditions as to Schedule 5 if, for the purpose of assessing levy in respect of it,— |
| 45 |
(a) in accordance with paragraph 14 of Schedule 7 to this Act the base value of the relevant interest (or, in Case B, the base value realised by the disposition constituting the chargeable act or event) falls to be ascertained separately in relation to different parts of the land in which the chargeable interest subsists, or would have fallen to be so ascertained if the antecedent period had extended to the first appointed day, and |
| 50 |
(b) for the purposes of any such separate ascertainment the conditions specified in sub-paragraphs (a) and (b) of paragraph 3 of this Schedule are fulfilled (or would, if the antecedent period had extended to the first appointed day, have been fulfilled) in relation to every part of that land. |
| Chargeable act or event partly fulfilling relevant conditions as to Schedule 5 |
| 55 |
6. For the purposes of this Schedule a chargeable act or event shall be taken to be a chargeable act or event partly fulfilling the relevant conditions as to Schedule 5 if, for the purpose of assessing levy in respect of it,— |
| 60 |
(a) in accordance with paragraph 14 of Schedule 7 to this Act the base value of the relevant interest (or, in Case B, the base value realised by the disposition constituting the chargeable act or event) falls to be ascertained separately in relation to different parts of the land in which the chargeable interest subsists, or would have fallen to be so ascertained if the antecedent period had extended to the first appointed day, and |