C2C1PART II RETURNS OF INCOME AND GAINS

Annotations:
Modifications etc. (not altering text)
C2

Pt. 2 applied (with modifications) by Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)

C1

Pt. 2 applied (with modifications) by Social Security Contributions and Benefits Act 1992 (c. 4), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)

F1NRCGT returns

Annotations:
Amendments (Textual)
F1

Ss. 12ZA-12ZN 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. 43

12ZAInterpretation of sections 12ZB to 12ZN

1

In sections 12ZA to 12ZN—

  • “advance self-assessment” is to be interpreted in accordance with section 12ZE(1);

  • “amount notionally chargeable” is to be interpreted in accordance with section 12ZF(1);

  • “filing date”, in relation to an NRCGT return, is to be interpreted in accordance with section 12ZB(8);

  • “interest in UK land” has the same meaning as in Schedule B1 to the 1992 Act (see paragraph 2 of that Schedule);

  • the “taxable person”, in relation to a non-resident CGT disposal, means the person who would be chargeable to capital gains tax in respect of any chargeable NRCGT gain (see section 57B of, and Schedule 4ZZB to, the 1992 Act) accruing on the disposal (were such a gain to accrue).

2

In those sections, references to the tax year to which an NRCGT return “relates” are to be interpreted in accordance with section 12ZB(7).

3

For the purposes of those sections the “completion” of a non-resident CGT disposal is taken to occur—

a

at the time of the disposal, or

b

if the disposal is under a contract which is completed by a conveyance, at the time when the asset is conveyed.

4

For the meaning in those sections of “non-resident CGT disposal” see section 14B of the 1992 Act (and see also section 12ZJ).

5

For the meaning of “NRCGT group” in those sections see section 288(1) of the 1992 Act.

6

In this section “conveyance” includes any instrument (and “conveyed” is to be construed accordingly).