The Offshore Funds (Tax) Regulations 2009

General provisionsU.K.

This section has no associated Explanatory Memorandum

38.—(1) An offshore income gain arises to a person on the disposal of an asset if a basic gain arises on the disposal.

(2) The disposal gives rise to an offshore income gain of an amount equal to the basic gain on the disposal.

(3) The following provisions of this Chapter explain how the basic gain is computed.