Finance Act, 1999

Amendment of section 839 (limits to special investments) of Principal Act.

66.—Section 839 of the Principal Act is hereby amended by the substitution for subsection (3) of the following subsection:

“(3) So long as an individual, whether married or not, does not have a beneficial interest in an investment of a class mentioned in subsection (1) other than—

(a) a beneficial interest, whether or not a joint interest, in one investment, or

(b) a joint beneficial interest in 2 investment of a class (which need not be the same class) mentioned in subsection (1),

then, sections 264, 723, 737 and 838 shall apply to that one investment or those 2 investments, as the case may be, as if every reference to £50,000 in those sections were a reference to £75,000.”.