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Changes over time for: Cross Heading: Chargeable amount: non-resident settlement


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 12/02/2019
Status:
Point in time view as at 26/05/2015.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Cross Heading: Chargeable amount: non-resident settlement is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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[Chargeable amount: non-resident settlementU.K.
4(1)If the transfer of value is made in a year of assessment during which the trustees of the transferor settlement are [at no time resident ... in the United Kingdom] the chargeable amount is computed under this paragraph.U.K.
(2)Where this paragraph applies the chargeable amount is the amount on which the trustees would have been chargeable to tax under section 2(2) by virtue of Schedule 4B if they had been [resident ... in the United Kingdom] in the year [(and had made the disposals which Schedule 4B treats them as having made)].
[(3)Where any of the disposals which the trustees are treated as having made as mentioned in sub-paragraph (2) is a non-resident CGT disposal—
(a)any chargeable gain or allowable loss accruing on that disposal, other than an NRCGT gain chargeable to, or an NRCGT loss allowable for the purposes of, capital gains tax by virtue of section 14D, is to be treated for the purposes of sub-paragraph (2) as if it were a chargeable gain or (as the case requires) allowable loss falling to be taken into account in calculating the chargeable amount, and
(b)that disposal is otherwise to be disregarded for the purpose of calculating the chargeable amount.]]
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