Taxation of Chargeable Gains Act 1992 (c. 12)

SCHEDULES

[F1 SCHEDULE 1A U.K. Assets deriving 75% of value from UK land etc

Textual Amendments

F1 Sch. 1A inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 14

PART 1 U.K. Introduction

1 U.K. This Schedule makes provision, for the purposes of section 1A(3)(c) or 2B(4)(b), for determining in the case of any disposal of any asset—

(a) whether the asset derives at least 75% of its value from UK land (see Part 2 of this Schedule), and

(b) whether the person making the disposal has a substantial indirect interest in the UK land (see Part 3 of this Schedule).

2 U.K. The provision made by this Schedule needs to be read together with—

(a) paragraph 5 of Schedule 5AAA (which treats units in a CoACS as shares for the purposes of this Schedule), and

(b) paragraph 6 of that Schedule (which treats certain disposals of interests in collective investment vehicles as meeting the conditions in Part 3 of this Schedule).]