The Capital Gains Tax (Annual Exempt Amount) Order 1992
This Order specifies £5,800 as the amount which, under section 5 of the Capital Gains Tax Act 1979 (“section 5”) (as amended by section 77 of the Finance Act 1980, section 80 of the Finance Act 1982, Part VIII of Schedule 14 to the Finance Act 1988 (c. 39),section 72 of the Finance Act 1990 (c. 29) and S.I. 1991/736) is the exempt amount for the year 1992–93 unless Parliament otherwise determines. The exempt amount for the year1991–92 was specified by S.I. 1991/736 as £5,500. The amount of £5,800 is the amount for1991–92 increased by the amount of the percentage increase in the retail prices index for December 1991 over that for December 1990. The amount has been rounded up to the nearest £100 in accordance with section 5(1B).