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5(1)With respect to chargeable gains accruing in chargeable periods ending after the appointed day, section 87 of the [1979 c. 14.] Capital Gains Tax Act 1979 (restriction on application of sections 85 and 86 of that Act) shall be amended as follows.
(2)In subsection (4)—
(a)for the words “the date when it is payable” there shall be substituted “the date determined under subsection (4A) below”;
(b)for the words “the time when the tax became payable” there shall be substituted “that date”; and
(c)for the words from “a sum” onwards there shall be substituted “from the chargeable person a sum equal to that amount together with any interest paid by him under section 87A of the [1970 c. 9.] Taxes Management Act 1970 on that amount”.
(3)After subsection (4) there shall be inserted the following subsection—
“(4A)The date referred to in subsection (4) above is whichever is the later of—
(a)the date when the tax becomes due and payable by the chargeable person; and
(b)the date when the assessment was made on the chargeable person.”
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