Section 81 | Increase of chattel exemption. ^F1

(1)In the following enactments, namely,—^F1

(a)section 128 of the Capital Gains Tax Act 1979 (chattel exemption by reference to consideration of £2,000),^F1

(b)section 12(2)(b) of the Taxes Management Act 1970 (information about assets acquired), and^F1

(c)section 25(7) of that Act (information about assets disposed of),^F1

for “£2,000”, in each case where it occurs, there shall be substituted “ £3,000 ”.

(2)This section applies to disposals on or after 6th April 1982 and, accordingly, in relation to subsection (1)(b) above, to assets acquired on or after that date.^F1