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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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The various privatisation measures have included tax provisions generally directed at giving continuity of treatment between a nationalised industry and its privatised successors. The scope and form of the tax provisions vary considerably, and if you deal with a privatised undertaking you will need to refer to the detail of the legislation covering your particular case. The following list shows the tax provisions relating to privatisations and certain other public sector reorganisations.

Post Office, British Telecom - Section 82 British Telecommunications Act 1981, Section 72 and paragraph 39 Schedule 5 Telecommunications Act 1984.

Trustee savings banks - Section 5 and Schedule 2 Trustee Savings Banks Act 1985.

Passenger transport executives, passenger transport authorities - Section 130 Transport Act 1985.

British Airports Authority - Section 77 Airports Act 1986.

British Gas - Section 147 FA1982, Section 60 Gas Act 1986.

British Steel - Section 11 British Steel Act 1988.

Water - Section 95 Water Act 1989.

Electricity - Section 90 and Schedule 11 Electricity Act 1989.

Independent broadcasting - FA90/S80 and FA90/SCH12.

Trust ports, Port of London Authority - Ports Act 1991, The Ports Act 1991 (Levy on Disposals of Land, etc) Order 1992.

Northern Ireland Electricity - Section 77 and Schedule 17 F(No.2)A 1992.

Milk marketing boards - Schedule 2 Agriculture Act 1993, amended by FA96/S203, see CG52850+.

British Railways - FA94/S252 and FA94/SCH24.

Northern Ireland Airports Ltd - FA94/S253 and FA94/SCH25.

Atomic Energy Authority - Atomic Energy Authority Act 1995.

BBC transmission services - Broadcasting Act 1996.