Taxation of Chargeable Gains Act 1992

277 Double taxation relief. U.K.

(1) For the purpose of giving relief from double taxation in relation to capital gains tax and tax on chargeable gains charged under the law of any [F1 territory] outside the United Kingdom, in Chapters I and II of Parts XVIII of the Taxes Act, as they apply for the purposes of income tax, for references to income there shall be substituted references to capital gains and for references to income tax there shall be substituted references to capital gains tax meaning, as the context may require, tax charged under the law of the United Kingdom or tax charged under the law of a [F1 territory] outside the United Kingdom.

(2) Any arrangements set out in an order made under section 347 of the M1 Income Tax Act 1952 before 5th August 1965 (the date of the passing of the M2 Finance Act 1965) shall so far as they provide (in whatever terms) for relief from tax chargeable in the United Kingdom on capital gains have effect in relation to capital gains tax.

(3) So far as by virtue of this section capital gains tax charged under the law of a [F2 territory] outside the United Kingdom may be brought into account under the said Chapters I and II as applied by this section, that tax, whether relief is given by virtue of this section in respect of it or not, shall not be taken into account for the purposes of those Chapters as they apply apart from this section.

(4) Section 816 of the Taxes Act (disclosure of information for purposes of double taxation) shall apply in relation to capital gains tax as it applies in relation to income tax.

Textual Amendments

F1 Word in s. 277(1) substituted (with application in accordance with s. 88(3) of the amending Act) by Finance Act 2002 (c. 23), s. 88(2)(f)

F2 Word in s. 277(3) substituted (with application in accordance with s. 88(3) of the amending Act) by Finance Act 2002 (c. 23), s. 88(2)(f)

Marginal Citations

M1 1952 c. 10.

M2 1965 c. 25.