Finance Act 2014

Amendment of section 29A of Principal Act (temporary non-residents)

46. (1) Section 29A of the Principal Act is amended by inserting the following after subsection (3):

“(3A) Notwithstanding subsection (3), where the market value of the relevant assets on the day they were disposed of is greater or less than the market value of those assets on the last day of the year, referred to in that subsection, that greater or lesser market value shall be substituted for the market value on that last day of the year.”.

(2) This section applies to disposals made on or after the date of the passing of this Act.