Capital Gains Tax Act 1979 (repealed 6.3.1992)
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
118 Relevant classes of assets.
The classes of assets for the purposes of section 115 (1) above are as follows. Class 1. Assets within heads A and B below. Head A 1. Any building or part of a building and any permanent or semi-permanent structure in the nature of a building, occupied (as well as used) only for the purposes of the trade. 2. Any land occupied (as well as used) only for the purposes of the trade. Head A has effect subject to section 119 below. Head B Fixed plant or machinery which does not form part of a building or of a permanent or semi-permanent structure in the nature of a building. Class 2 Ships, aircraft and hovercraft (“hovercraft” having the same meaning as in the Hovercraft Act 1968). Class 2A Satellites, space stations and spacecraft (including launch vehicles). Class 3 Goodwill. Class 4 Milk quotas (that is, rights to sell dairy produce without being liable to pay milk levy or to deliver dairy produce without being liable to pay a contribution to milk levy) and potato quotas (that is, rights to produce potatoes without being liable to pay more than the ordinary contribution to the Potato Marketing Board’s fund).
118 Relevant classes of assets.
The classes of assets for the purposes of section 115 (1) above are as follows. Class 1. Assets within heads A and B below. Head A 1. Any building or part of a building and any permanent or semi-permanent structure in the nature of a building, occupied (as well as used) only for the purposes of the trade. 2. Any land occupied (as well as used) only for the purposes of the trade. Head A has effect subject to section 119 below. Head B Fixed plant or machinery which does not form part of a building or of a permanent or semi-permanent structure in the nature of a building. Class 2 Ships, aircraft and hovercraft (“hovercraft” having the same meaning as in the Hovercraft Act 1968). Class 2A Satellites, space stations and spacecraft (including launch vehicles). Class 3 Goodwill. Class 4 Milk quotas (that is, rights to sell dairy produce without being liable to pay milk levy or to deliver dairy produce without being liable to pay a contribution to milk levy) and potato quotas (that is, rights to produce potatoes without being liable to pay more than the ordinary contribution to the Potato Marketing Board’s fund).
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.