Taxation of Chargeable Gains Act 1992 Schedule 5BA paragraph 6

Savings

Schedule 5BA paragraph 6 provides savings provisions that preserve certain existing rights or treatments when transitional changes are made under the schedule.

• This paragraph acts as a savings provision within Schedule 5BA, ensuring that prior entitlements or tax treatments are not inadvertently disturbed by the operation of the schedule.
• The provision was amended by the Finance Act 2008, Schedule 2, paragraph 49, which updated its application in line with broader legislative changes.
• Savings clauses of this nature are designed to protect taxpayers from losing the benefit of rules that applied before a legislative change took effect.
• In practice, this means that where a taxpayer had an established position under earlier rules, that position is preserved notwithstanding the introduction of new provisions in Schedule 5BA.