Capital Gains Tax (Amendment) Act, 1978
|
Amendment of sections 13 (computation of chargeable gains) and 37 (chargeable gains reserved for policy holders) of Corporation Tax Act, 1976 . |
11.—(1) Sections 13 (1) and 37 (3) (a) of the Corporation Tax Act, 1976 , are hereby amended as respects— | |
(a) the financial year 1978 in relation to any accounting period or part of an accounting period falling after the 5th day of April, 1978, and | ||
(b) the financial year 1979 and each subsequent financial year. | ||
by the substitution of “fifteen-forty-fifths” for “nineteen-forty-fifths” (inserted by the Finance Act, 1977). | ||
(2) Section 37 (1) of the Corporation Tax Act, 1976 , is hereby amended as respects— | ||
(a) the financial year 1978 in relation to any accounting period or part of an accounting period falling after the 5th day of April, 1978, and | ||
(b) the financial year 1979 and each subsequent financial year, | ||
by the substitution of “30 per cent.” for “26 per cent.”. |