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 5 U.K. Miscellaneous

Persons with UK land ceasing to be UK resident after 5 April 2019 U.K.

17 (1) This paragraph applies in any case where— U.K.

(a) the trustees of a settlement cease to be resident in the United Kingdom after 5 April 2019,

(b) after that date the trustees dispose of an asset held by them on that date, and

(c) the disposal is a direct or indirect disposal of UK land.

(2) Nothing in Part 2, 3 or 4 of this Schedule applies to the disposal.

(3) The asset that is disposed of is excepted from the application of section 80(2) (deemed disposal of assets on trustees ceasing to be resident in UK).

18 (1) This paragraph applies in any case where— U.K.

(a) a company ceases to be resident in the United Kingdom after 5 April 2019,

(b) after that date the company disposes of an asset held by it on that date, and

(c) the disposal is a direct or indirect disposal of UK land.

(2) Nothing in Part 2, 3 or 4 of this Schedule applies to the disposal.

(3) The asset that is disposed of is excepted from the application of section 185(2) and (3) (deemed disposal of assets on company ceasing to be resident in UK).]