s 48 Tax
(1) The Treasury may by regulations make provision about the fiscal consequences of the exercise of a transfer power. (2) Regulations may relate to— (a) capital gains tax; (b) corporation tax; (c) income tax; (d) inheritance tax; (e) stamp duty; (f) stamp duty reserve tax; (g) stamp duty land tax; (h) land and buildings transaction tax; (i) land transaction tax; (j) landfill tax; (k) Scottish landfill tax; (l) landfill disposals tax. (3) Regulations may apply to— (a) anything done in connection with share transfer regulations or property transfer regulations; (b) things transferred or otherwise affected by virtue of share transfer regulations or property transfer regulations; (c) a transferor or transferee under share transfer regulations or property transfer regulations; (d) persons otherwise affected by share transfer regulations or property transfer regulations. (4) Regulations may— (a) modify or disapply an enactment; (b) provide for an action to have or not have specified consequences; (c) provide for specified classes of property (including securities), rights or liabilities to be treated, or not treated, in a specified way; (d) withdraw or restrict a relief; (e) extend, restrict or otherwise modify a charge to tax; (f) provide for matters to be determined by the Treasury in accordance with provision made by or in accordance with the regulations. (5) Regulations may make provision for the fiscal consequences of the exercise of a transfer power in respect of things done— (a) during the period of three months before the date on which the transfer power is exercised, or (b) on or after that date. (6) In relation to the exercise of supplemental or onward transfer regulations under section 12 , 13 , 25 or 26 , “ the transfer power ” means the first transfer power in connection with which the supplemental or onward transfer regulations are made. (7) The Treasury may by regulations amend subsection (2) so as to add or remove an entry. (8) Regulations under this section may not be made unless a draft has been laid before and approved by resolution of the House of Commons.