Taxation of Chargeable Gains Act 1992 (c. 12)

SCHEDULES

[F1 SCHEDULE 4AA U.K. Re-basing for non-residents in respect of UK land etc held on 5 April 2019

Textual Amendments

F1 Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17

PART 4 U.K. Direct disposals of assets partly chargeable before 6 April 2019

Introduction U.K.

12 (1) This Part of this Schedule applies to any direct disposal of UK land if— U.K.

(a) neither Part 2 nor Part 3 of this Schedule applies to the disposal, and

(b) the interest in UK land being disposed of was not a post-April 2015 asset that was fully residential before 6 April 2019.

(2) For this purpose—

(a) the interest in UK land being disposed of is a “post-April 2015 asset” if it was acquired by the person after 5 April 2015, and

(b) the asset “was fully residential before 6 April 2019” if, in the period beginning with the day on which it was acquired and ending with 5 April 2019, every day on which the land to which the disposal relates consisted of a dwelling.

(3) If the disposal is of an interest in land subsisting under a contract for the acquisition of land that, at any time in that period, did not consist of a building to be constructed or adapted for use as a dwelling, the disposal is taken to be not fully residential before 6 April 2019.]