Finance Act, 1984
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Chapter II Revised Computation | ||
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Amendment of certain sections of Principal Act. |
110.—(1) Section 36 of the Principal Act is hereby amended by the substitution of the following subsection for subsections (3) and (4): | |
“(3) Subsection (2) applies to a gift where— | ||
(a) the aggregate of the taxable values of all taxable gifts taken by the donee on or after the 2nd day of June, 1982, exceeds an amount which is 80 per cent. of the threshold amount (as defined in the Second Schedule) which applies in the computation of the tax on that aggregate, or | ||
(b) the donee is required by notice in writing by the Commissioners to deliver a return.”. | ||
(2) Sections 9 and 53 (3) of the Principal Act shall not apply or have effect. | ||
(3) Section 54 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (1): | ||
“(1) Where any person takes a benefit for public or charitable purposes he shall be deemed— | ||
(a) for the purposes of sections 5 (1) and 11 (1), to have taken that benefit beneficially, and | ||
(b) for the purposes of the Second Schedule, to have taken a gift or an inheritance accordingly to which the class threshold of £10,000 applies.”. | ||
(4) Section 55 of the Principal Act (as extended by the Finance Act, 1978 ) is hereby amended by the deletion of “from the same disponer” in subsection (2) (a). | ||
(5) Section 57 of the Principal Act (as amended by the Finance Act, 1978 ) is hereby amended by the deletion of “from the same disponer” in subsection (2). |