Taxation of Chargeable Gains Act 1992 Schedule 5BA paragraph 1

Application of Schedule

Schedule 5BA paragraph 1 defines when the Schedule applies, setting out the conditions under which relief is available for gains on certain disposals.

• The Schedule applies where specific qualifying conditions are met in relation to the disposal of an asset.
• The provision was introduced as part of a broader relief framework within the Taxation of Chargeable Gains Act 1992.
• It establishes the gateway test that must be satisfied before the detailed rules in the rest of the Schedule come into play.
• The paragraph was amended by Finance Act 2008, Schedule 2, paragraph 49.