§ Mr. Barry FieldTo ask the Chancellor of the Exchequer what the new date will be for the payment of capital gains tax under self-assessment; how the bringing forward of its date will affect the period allowed for reinvestment relief; and in what respects he will adjust the effects of this change of date for capital gains and taxpayers in respect of periods of relief. [27933]
§ Sir George YoungUnder self-assessment, capital gains tax will normally become due and payable on 31 January following the year of assessment to which it relates. This is later than the present date of 1 December. Reinvestment relief is available where qualifying shares are acquired within one year before, or three years after, the disposal of an asset. The change in the due and payable date for capital gains tax under self-assessment does not affect this period.