Taxation of Chargeable Gains Act 1992

[F1 14B Meaning of “non-resident CGT disposal” U.K.

(1) For the purposes of this Act a disposal made by a person is a “non-resident CGT disposal” if—

(a) it is a disposal of a UK residential property interest, and

(b) condition A or B is met.

But see also subsection (5).

(2) Condition A is—

(a) in the case of an individual, that the individual is not resident in the United Kingdom for the tax year in question (see subsection (3)),

(b) in the case of personal representatives of a deceased person, that the single and continuing body mentioned in section 62(3) is not resident in the United Kingdom,

(c) in the case of the trustees of a settlement, that the single person mentioned in section 69(1) is not resident in the United Kingdom during any part of the tax year in question, and

(d) in any other case, that the person is not resident in the United Kingdom at the relevant time.

(3) In subsection (2)—

(a) “the tax year in question” means the tax year in which any gain on the disposal accrues (or would accrue were there to be such a gain);

(b) “the relevant time” means the time at which any gain on the disposal accrues (or would accrue were there to be such a gain).

(4) Condition B is that—

(a) the person is an individual, and

(b) any gain accruing to the individual on the disposal would accrue in the overseas part of a tax year which is a split year as respects the individual.

(5) A disposal by a person of a UK residential property interest is not a non-resident CGT disposal so far as any chargeable gains accruing to the person on the disposal—

(a) would be gains in respect of which the person would be chargeable to capital gains tax—

(i) under section 10(1) (non-resident with UK branch or agency), or

(ii) under section 2 as a result of subsection (1C) of that section (corresponding provision relating to the overseas part of a split year), or

(b) would be gains forming part of the person's chargeable profits for corporation tax purposes by virtue of section 10B (non-resident company with UK permanent establishment).]

Textual Amendments

F1 Ss. 14B-14H and cross-heading inserted (with effect in accordance with Sch. 7 para. 60 of the amending Act) by Finance Act 2015 (c. 11), Sch. 7 para. 11