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Section 123: Abolition of pooling for CGT.

Finance Act 1998 · 1998 c. 36View on legislation.gov.uk

Part III: Income Tax, Corporation Tax and Capital Gains Tax — Chapter II: Taxation of Chargeable Gains

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In subsection (3) of that section (interpretation), for " "a new holding" is" there shall be substituted ." "a section 104 holding" is "

For subsection (4) of that section there shall be substituted the following subsection—

In the following enactments for the words "new holding", wherever they occur, there shall be substituted , namely—" section 104 holding "

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in sections 104(6), 107 and 110 of the Taxation of Chargeable Gains Act 1992.

The preceding provisions of this section have effect in relation to any disposal on or after 6th April 1998 of any securities (whenever acquired).

The powers of the Treasury to make provision by regulations under one or more of—

section 333 of the Taxes Act 1988 (investment plan regulations),
section 151 of the Taxation of Chargeable Gains Act 1992 (capital gains tax and investment plans), and
Chapter 3 of Part 6 of the Income Tax (Trading and Other Income) Act 2005 (income from individual investment plans),

shall include power to provide, to such extent as appears to them to be appropriate for purposes connected with the enactment of this section and section 124 below, for any provision contained in any such regulations to have effect retrospectively in relation to such times falling on or after 17th March 1998 as may be specified in the regulations.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.