Sch 1 para 89
(1) Schedule 4C (transfers of value: attribution of gains to beneficiaries) is amended as follows. (2) For “the section 2(2) amount” or “the section 2(2) amounts”, in each place, substitute “ the section 1(3) amount ” or “the section 1(3) amounts” respectively. (3) In paragraph 1A(3), for “meets the residence condition set out in section 2(1A)” substitute “ is UK resident for the tax year (as determined in accordance with Chapter 1 of Part 1 of this Act) ” . (4) In paragraph 4— (a) in sub-paragraph (2), for “section 2(2)” substitute “ section 1(3) ” , and (b) for sub-paragraph (3) substitute— (3) Where (apart from this sub-paragraph) the chargeable amount mentioned in sub-paragraph (2) would include a chargeable gain or allowable loss to which section 1A(3)(b) or (c) applies (disposals by non-UK residents within the charge to capital gains tax), so much of the gain or loss as would be so included is to be disregarded for the purposes of determining the chargeable amount. (5) In paragraph 6(1)(b), for “section 10A” substitute “ section 1M ” . (6) In paragraph 12(1)(a) and (5), and in the italic heading before paragraph 12, for “section 10A” substitute “ section 1M ” . (7) In paragraph 12A(1) and (5), and in the italic heading before paragraph 12, for “section 10A” substitute “ section 1M ” .