SCHEDULES
SCHEDULE 2Capital gains tax reform
Meaning of “tax year”
101
1
Section 288 of TCGA 1992 (interpretation) is amended as follows.
2
In subsection (1), for the definition of “year of assessment” substitute—
“year of assessment” means tax year;
3
After that subsection insert—
1ZA
In this Act and other enactments relating to capital gains tax “tax year” means a year beginning on 6 April and ending on the following 5 April; and “the tax year 2008-09” means the tax year beginning on 6 April 2008 (and any corresponding expression in which two years are similarly mentioned is to be read in the same way).