Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 449: Charge on occurrence of chargeable event
1901.This is the first of the charging provisions and derives from parts of section 78(1) and (3) of FA 1988. The meaning of chargeable event, the calculation of the charge and the exceptions appear in separate sections. Subsection (5) acts as a signpost to the provisions which remove the charge under various approved schemes.