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(3) In the case of a woman who during a year of assessment or part of a year of assessment is a married woman living with her husband, any allowable loss which under section 31 would be deductible from the chargeable gains accruing in that year of assessment to the one spouse but for an insufficiency of chargeable gains shall for the purposes of that section be deductible from chargeable gains accruing in that year of assessment to the other spouse; but this subsection shall not apply in relation to losses accruing in a year of assessment to either spouse where an application that this subsection shall not apply is made by the husband or the wife before the 6th day of July 1 April in the year following that year of assessment.

(4) In the case of a civil partner who during a year of assessment or part of a year of assessment is a civil partner living with his or her civil partner, any allowable loss which under section 31 would be deductible from the chargeable gains accruing in that year of assessment to one civil partner but for an insufficiency of chargeable gains shall for the purposes of that section be deductible from chargeable gains accruing in that year of assessment to the other civil partner; but this subsection shall not apply in relation to losses accruing in a year of assessment to either civil partner where an application that this subsection shall not apply is made by either of them before 1 April in the year following that year of assessment.

(1) Notwithstanding section 28(2), 31 or 979, any capital gains tax payable in respect of a chargeable gain which on a disposal accrues to a person not resident or ordinarily resident in the State at the time at which the disposal is made may be assessed and charged before the end of the year of assessment in which the chargeable gain accrues, and the tax so assessed and charged shall be payable at or before the expiration of a period of 3 months beginning with the time at which the disposal is made, or at the expiration of a period of 2 months beginning with the date of making the assessment, whichever is the later.

(2) In computing the amount of capital gains tax payable under subsection (1), section 31 shall apply with any necessary modifications as regards the deduction of any allowable losses which accrued to the person mentioned in subsection (1) before the date of making of the assessment mentioned in that subsection.

(2A)(a) Where as a result of the dissolution of a body corporate, property of the body corporate becomes property of the State by virtue of Part III of the State Property Act, 1954, and the Minister for Finance, in accordance with that Part of that Act, waives the right of the State to that property in favour of a person who holds or has held shares in the body corporate, then, notwithstanding section 31 and subject to paragraph (c), any allowable loss (in this subsection referred to as a “claimed loss”) accruing to the person by virtue of a claim made under subsection (2) in respect of those shares shall not be allowable as a deduction from chargeable gains in any year of assessment earlier than the year of assessment in which the property is disposed of by the person and any necessary adjustments may be made by way of assessment or additional assessment by way of assessment or amended assessment to give effect to this paragraph.

(6) For the purposes of section 31, where, on the assumption that there were no allowable losses to be deducted under that section, a person would be chargeable under the Capital Gains Tax Acts at more than one rate of tax for a year of assessment, any allowable losses to be deducted under that section shall be deducted—

(2)(a) Any beneficiary under the settlement who is domiciled and either resident or ordinarily resident in the State in any year of assessment shall be treated for the purposes of the Capital Gains Tax Acts as if an apportioned part of the amount, if any, on which the trustees would have been chargeable to capital gains tax under section 31, if domiciled and either resident or ordinarily resident in the State in that year of assessment, had been chargeable gains accruing to the beneficiary in that year of assessment.

(3)There shall be computed in respect of every year of assessment for which this section applies the amount on which the trustees would have been chargeable to capital gains tax under section 31 if they had been resident and ordinarily resident in the State in the year of assessment and that amount, together with the corresponding amount in respect of any earlier such year of assessment, so far as not already treated under subsection (4) or section 579F(2) as chargeable gains accruing to beneficiaries under the settlement, is in this section referred to as “the trust gains for the year of assessment”.

(i) to the extent that such excess has not been deducted in years of assessment subsequent to the year of assessment in which the disposal of the original holding occurred, the excess of the amount of the losses which would have been deducted under section 31 in the year of assessment in which the disposal of the original holding occurred, if relief under this section had not been claimed, over the amount of such losses which were so deducted in that year, and

(d) Notwithstanding section 31, the total amount of chargeable gains accruing to a person chargeable in a year of assessment after deducting any allowable losses shall not be less than the total amount of any relevant gains accruing to the person in that year, and accordingly any deduction for allowable losses made in computing the total amount of chargeable gains so accruing shall not exceed the total amount of chargeable gains so accruing which are not relevant gains.

(1) An individual shall not be chargeable to capital gains tax for a year of assessment if the amount on which he or she is chargeable to capital gains tax under section 31 for that year does not exceed £1,000 £740 €1,270.

(2) Where the amount on which an individual is chargeable to capital gains tax under section 31 for a year of assessment exceeds £1,000 £740 €1,270, only the excess of that amount over £1,000 £740 €1,270 shall be charged to capital gains tax for that year.

(2) In the computation of the amount on which under section 31 capital gains tax is to be charged on chargeable gains accruing on relevant disposals, any allowable losses accruing on relevant disposals may be deducted in accordance with that section but, in so far as they are so deducted, they shall not be treated as relevant allowable losses within the meaning of section 78(4) for the purposes of the calculation required to be made under section 78(2), and for the purposes of this subsection any necessary assessments or additional assessments, as may be appropriate, may be made any necessary assessments may, as appropriate, be made or amended.

(4) A tonnage tax election shall not affect the deduction under section 31 as applied by section 78(2) of relevant allowable losses (within the meaning of section 78) that accrued to a company before it became a tonnage tax company.

(a) disregarded for the purposes of section 31, and

(i) disregarded for the purposes of section 31,

(a) be disregarded for the purposes of section 31,

(c) in subsection (2) of section 579 and subsection (3) of section 579A for “capital gains tax under section 31” there were substituted “income tax by virtue of section 745, and

(6) (a) Subject to paragraph (b), the amount of capital gains tax, which apart from this subsection, would be chargeable on chargeable gains accruing to an investor to whom this subsection applies, on the disposal of old securities, after such chargeable gains have been reduced by any allowable losses under section 31, shall, if the investor so elects, be deemed to be an amount of capital gains tax chargeable on chargeable gains which are deemed to accrue to the investor in the chargeable period (in this subsection referred to as “the later chargeable period”) in which the new securities are disposed of (and not in any other chargeable period) in addition to any capital gains tax chargeable on chargeable gains accruing to the investor in the later chargeable period and the provisions of Part 41 Part 41A shall apply accordingly.

(2) Where for an accounting period chargeable gains accrue to a company, an amount of capital gains tax shall be calculated as if, notwithstanding any provision to the contrary in the Corporation Tax Acts, capital gains tax were to be charged on the company in respect of those gains in accordance with the Capital Gains Tax Acts, and as if accounting periods were years of assessment; but, in calculating the amount of capital gains tax, section 31 shall apply as if the reference in that section to deducting allowable losses were a reference to deducting relevant allowable losses.

(bb) Notwithstanding paragraph (b), where, at the time a special portfolio investment account is closed, a loss has not been relieved under that paragraph because of an insufficiency of relevant income or gains at that time, that loss shall for the purposes of section 31 be treated as an allowable loss accruing at that time to the individual in whose name the special portfolio investment account was held.

(6) Where, in relation to any payment referred to in subsection (4)(a), any person has made default in delivering an account required by this section, or where the inspector is not satisfied with the account, the inspector may estimate the amount of the payment to the best of his or her judgment and, notwithstanding section 31, may assess and charge that person to capital gains tax for the year of assessment in which the payment was made on the amount so estimated at the rate of 15 per cent.