[F1Regulation 23: supplementaryU.K.
23A.—(1) Regulation 23(2) does not apply to an offshore income gain accruing on the disposal by the taxpayer of an asset if –
(a)the asset was acquired by the taxpayer in the temporary period of non-residence,
(b)it was so acquired otherwise than by means of a relevant disposal that by virtue of section 58, 73 or 258(4) TCGA 1992 is treated as having been a disposal on which neither a gain nor a loss accrued, and
(c)the asset is not an interest created by or arising under a settlement.
(2) Nothing in any double taxation relief arrangements is to be read as preventing the taxpayer from being chargeable to income tax in respect of any offshore income gains treated under regulation 23 as accruing to the taxpayer in the period of return (or as preventing a charge to that tax from arising as a result).
(3) Nothing in any enactment imposing any limit on the time within which an assessment to income tax may be made prevents any assessment for the year of departure from being made in the taxpayer’s case at any time before the end of the second anniversary of the 31 January next following the year of return.
(4) In this regulation—
(a)“relevant disposal” has the meaning given in section 10AA(2) of TCGA 1992, and
(b)“the year of departure” has the meaning given in paragraph 114 of Schedule 45 to the Finance Act 2013.]
Textual Amendments
F1Reg. 23, 23A substituted for reg. 23 (with effect in accordance with reg. 2(b) of the amending S.I.) by The Temporary Non-Residence (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/1810), regs. 1, 4(2)